An untreated wooden pole that will last 10 years under a certain soil condition costs P 12,000. If a treated pole will last for 20 years, what is the maximum justifiable amount that can be paid for the treated pole? Assume 1% tax of the first cost for the treated pole and 12% interest rate. Use annual cost method. Show solutions

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Present Value

Present value (PV) is defined as the current or present value of all future sums of cash flow or money at a specified rate of return. This rate of return is known as the discounted rate, which is essentially the interest rate, discounted over some time. The expected cash flows are discounted at a discount rate to compute the present value. The higher the discount rate, the higher the future value (FV), but the lower the present value.