Moates Corporation has provided the following data concerning an investment project that it is considering: Initial investment $ 200,000 Annual cash flow $ 123,000 per year Expected life of the project 4 years Discount rate 10% Click here to view Exhibit 14B-1 and Exhibit 14B-2, to determine the appropriate discount factor(s) using the tables provided. The net present value of the project is closest to: (Round your intermediate calculations and final answer to the nearest whole dollar amount.)
Moates Corporation has provided the following data concerning an investment project that it is considering: Initial investment $ 200,000 Annual cash flow $ 123,000 per year Expected life of the project 4 years Discount rate 10% Click here to view Exhibit 14B-1 and Exhibit 14B-2, to determine the appropriate discount factor(s) using the tables provided. The net present value of the project is closest to: (Round your intermediate calculations and final answer to the nearest whole dollar amount.)
Financial & Managerial Accounting
13th Edition
ISBN:9781285866307
Author:Carl Warren, James M. Reeve, Jonathan Duchac
Publisher:Carl Warren, James M. Reeve, Jonathan Duchac
Chapter10: Current Liabilities And Payroll
Section: Chapter Questions
Problem 10.23EX
Related questions
Question
Moates Corporation has provided the following data concerning an investment project that it is considering:
| Initial investment | $ 200,000 | |
|---|---|---|
| Annual cash flow | $ 123,000 | per year |
| Expected life of the project | 4 | years |
| Discount rate | 10% |
Click here to view Exhibit 14B-1 and Exhibit 14B-2, to determine the appropriate discount factor(s) using the tables provided.
The
Transcribed Image Text:EXHIBIT 14B-1
Present Value of $1; 1 ( 1 + r)n
Periods
4%
5%
6%
7%
8%
9%
10%
11%
12%
13%
14%
15%
16%
17%
18%
19%
20%
21%
22%
23%
24%
25%
1
0.962
0.952
0.943
0.935
0.926
0.917
0.909 | 0.901
0.893
0.885
0.877
0.870
0.862 | 0.855
0.847
0.840
0.833
0.826
0.820
0.813
0.806
0.800
0.925
0.907
0.890
0.873
0.857
0.842
0.826
0.812
0.797
0.783
0.769
0.756
0.743
0.731
0.718
0.706
0.694
0.683
0.672
0.661
0.650
0.640
3
0.889
0.864
0.840
0.816
0.794
0.772 | 0.751
0.731
0.712
0.693
0.675
0.658
0.641
0.624
0.609
0.593
0.579
0.564
0.551
0.537
0.524
0.512
4
0.855
0.823
0.792
0.763
0.735
0.708
0.683
0.659
0.636
0.613
0.592
0.572
0.552
0.534
0.516
0.499
0.482
0.467
0.451
0.437
0.423
0.410
5
0.822 | 0.784
0.747 | 0.713
0.681
0.650
0.621
0.593
0.567
0.543
0.519
0.497
0.476 | 0.456
0.437
0.419
0.402
0.386
0.370
0.355
0.341
0.328
0.790
0.746
0.705
0.666
0.630
0.596 | 0.564
0.535
0.507
0.480
0.456
0.432
0.410
0.390
0.370
0.352
0.335
0.319
0.303
0.289
0.275
0.262
7
0.760| 0.711
0.665
0.623
0.583
0.547
0.513
0.482
0.452
0.425
0.400
0.376
0.354 | 0.333
0.314
0.296
0.279
0.263
0.249
0.235
0.222
0.210
0.218 | 0.204
0.180 | 0.167
8.
0.731
0.677
0.627
0.582
0.540
0.502
0.467
0.434
0.404
0.376
0.351
0.327
0.305
0.285
0.266
0.249
0.233
0.191
0.179
0.168
0.703 0.645
0.676 | 0.614
0.650 | 0.585
0.625 | 0.557
9
0.592
0.544
0.500
0.460
0.424
0.391
0.361
0.333
0.308
0.284
0.263
0.243
0.225
0.209
0.194
0.155
0.144
0.134
0.558 0.508
0.527 | 0.475
10
0.463
0.422
0.386
0.352
0.322
0.295
0.270
0.247
0.227
0.208
0.191
0.176 | 0.162
0.149
0.137
0.126
0.116
0.107
11
0.429
0.388
0.350
0.317
0.287
0.261
0.237
0.215
0.195
0.178
0.162 | 0.148
0.135
0.123
0.112
0.103
0.094
0.086
12
0.497
0.444
0.397
0.356
0.319
0.286
0.257
0.231
0.208
0.187
0.168
0.152
0.137
0.124
0.112
0.102
0.092
0.083
0.076
0.069
13
0.601
0.530
0.469
0.415
0.368
0.326
0.290
0.258
0.229
0.204
0.182
0.163
0.145
0.130
0.116
0.104 0.093
0.084 | 0.075
0.068
0.061
0.055
0.442 | 0.388
0.417 0.362
0.394 | 0.339
14
0.577
0.505
0.340
0.299
0.263
0.232
0.205
0.181
0.160
0.141
0.125
0.111
0.099
0.088
0.078
0.069
0.062
0.055
0.049
0.044
0.045 | 0.040
0.036 | 0.032
15
0.555
0.481
0.315
0.275
0.239
0.209
0.183
0.160
0.140
0.123
0.108
0.095
0.084
0.074
0.065
0.057
0.051
0.035
16
0.534
0.458
0.292
0.252
0.218
0.188
0.163
0.141
0.123
0.107
0.093
0.081
0.071
0.062
0.054
0.047
0.042
0.028
17
0.513
0.436
0.371
0.317
0.270
0.231
0.198
0.170
0.146
0.125
0.108
0.093 | 0.080
0.069
0.060
0.052 | 0.045
0.039
0.034
0.030
0.026
0.023
18
0.494 | 0.416
0.350
0.296
0.250
0.212
0.180
0.153
0.130
0.111
0.095
0.081
0.069
0.059
0.051
0.044
0.038
0.032
0.028
0.024
0.021
0.018
19
0.475
0.396
0.331
0.277
0.232
0.194
0.164
0.138
0.116
0.098
0.083
0.070
0.060
0.051
0.043
0.037
0.031
0.027
0.023
0.020
0.017
0.014
20
0.456
0.377
0.312
0.258
0.215
0.178
0.149 | 0.124
0.104
0.087
0.073
0.061
0.051
0.043
0.037
0.031
0.026
0.022
0.019
0.016
0.014
0.012
21
0.439
0.359
0.294
0.242
0.199
0.164
0.135
0.112
0.093
0.077
0.064
0.053
0.044 | 0.037
0.031
0.026
0.022
0.018
0.015
0.013
0.011
0.009
22
0.422
0.342
0.278
0.226
0.184 | 0.150
0.123
0.101
0.083
0.068
0.056
0.046
0.038
0.032
0.026 | 0.022
0.018
0.015
0.013
0.011
0.009
0.007
23
0.406
0.326
0.262
0.211
0.170
0.138
0.112
0.091
0.074
0.060
0.049
0.040
0.033
0.027
0.022
0.018
0.015
0.012 | 0.010
0.009
0.007
0.006
24
0.390 | 0.310
0.247 | 0.197
0.158 | 0.126 | 0.102
0.082
0.066
0.053
0.043
0.035
0.028
0.023
0.019
0.015
0.013
0.010
0.008
0.007 | 0.006
0.005
25
0.375
0.295
0.233
0.184
0.146
0.116
0.092
0.074
0.059
0.047
0.038
0.030
0.024 | 0.020
0.016
0.013
0.010
0.009
0.007
0.006
0.005
0.004
26
0.361
0.281
0.220 | 0.172
0.135
0.106
0.084
0.066
0.053
0.042
0.033
0.026
0.021
0.017
0.014
0.011
0.009
0.007
0.006
0.005
0.004
0.003
27
0.347
0.268
0.207
0.161
0.125
0.098
0.076
0.060
0.047
0.037
0.029
0.023
0.018
0.014
0.011
0.009
0.007
0.006
0.005
0.004
0.003
0.002
0.020 | 0.016 | 0.012
0.196 | 0.150
0.185 | 0.141
0.174 | 0.131
0.097 | 0.067 0.046
28
0.333
0.255
0.116
0.090
0.069
0.054
0.042
0.033
0.026
0.010
0.008
0.006
0.005
0.004
0.003
0.002
0.002
29
0.321
0.243
0.107
0.082
0.063
0.048
0.037
0.029
0.022
0.017
0.014
0.011
0.008
0.006
0.005
0.004
0.003
0.002
0.002
0.002
30
0.308
0.231
0.099
0.075
0.057
0.044
0.033
0.026
0.020
0.015 | 0.012 | 0.009
0.007
0.005
0.004
0.003
0.003
0.002 | 0.002 | 0.001
40
0.208 0.142
0.032
0.022
0.015
0.011
0.008
0.005
0.004
0.003
0.002
0.001
0.001
0.001 | 0.000 | 0.000 | 0.000
0.000
0.000
![EXHIBIT 14B-2
Present Value of an Annuity of $1 in Arrears; 1 r[1 -1 (1+r) n ]
Periods
4%
5%
6%
7%
8%
9%
10%
11%
12%
13%
14%
15%
16%
17%
18%
19%
20%
21%
22%
23%
24%
25%
1
0.962
0.952
0.943
0.935
0.926
0.917
0.909
0.901
0.893
0.885
0.877
0.870
0.862
0.855
0.847
0.840
0.833
0.826
0.820
0.813 | 0.806 | 0.800
2
1.886
1.859
1.833
1.808
1.783
1.759
1.736
1.713
1.690
1.668
1.647
1.626
1.605
1.585
1.566
1.547
1.528
1.509
1.492
1.474
1.457
1.440
3
2.775
2.723
2.673
2.624
2.577
2.531
2.487
2.444
2.402
2.361
2.322
2.283
2.246
2.210 | 2.174
2.140
2.106
2.074
2.042
2.011
1.981
1.952
4
3.630
3.546
3.465
3.387
3.312
3.240
3.170
3.102
3.037
2.974
2.914
2.855
2.798
2.743
2.690
2.639 | 2.589
2.540
2.494
2.448
2.404| 2.362
5
4.452
4.329
4.212
4.100
3.993
3.890
3.791
3.696
3.605
3.517
3.433
3.352
3.274
3.199
3.127
3.058
2.991
2.926
2.864
2.803 2.745
2.689
5.242
5.076
4.917
4.767
4.623
4.486
4.355
4.231
4.111
3.998
3.889
3.784 3.685
3.589 | 3.498
3.410
3.326
3.245
3.167
3.092
3.020
2.951
7
6.002
5.786
5.582
5.389
5.206| 5.033
4.868
4.712
4.564
4.423
4.288
4.160
4.039
3.922
3.812
3.706 | 3.605
3.508
3.416
3.327
3.242
3.161
8
6.733
6.463
6.210
5.971
5.747
5.535
5.335
5.146
4.968
4.799
4.639
4.487
4.344
4.207 | 4.078
3.954
3.837
3.726
3.619
3.518
3.421
3.329
9.
7.435
7.108
6.802
6.515
6.247
5.995
5.759
5.537
5.328
5.132 | 4.946
4.772
4.607
4.451
4.303
4.163
4.031
3.905
3.786
3.673 | 3.566 | 3.463
5.889
4.659 | 4.494
4.836 | 4.656
4.988 | 4.793
5.118 | 4.910
10
8.111
7.722
7.360
7.024
6.710
6.418
6.145
5.650
5.426
5.216
5.019
4.833
4.339
4.192
4.054
3.923
3.799
3.682
3.571
11
8.760
8.306
7.887
7.499
7.139
6.805
6.495
6.207
5.938
5.687
5.453 5.234
5.029
4.486
4.327
4.177
4.035
3.902
3.776
3.656
12
9.385
8.863
8.384
7.943
7.536
7.161
6.814
6.492
6.194
5.918
5.660
5.421
5.197
4.611
4.439
4.278
4.127
3.985
3.851
3.725
13
9.986
9.394
8.853
8.358
7.904
7.487
7.103
6.750
6.424
6.122
5.842
5.583
5.342
4.715
4.533
4.362
4.203
4.053
3.912
3.780
3.962 | 3.824
10.563 9.899
11.118 10.380 | 9.712
11.652 10.838 | 10.106| 9.447
12.166 11.274 10.477 9.763
12.659 | 11.690 | 10.828 | 10.059|| 9.372
13.134 12.085 11.158 | 10.336 9.604
13.590 12.462 | 11.470 | 10.594| 9.818
14.029 | 12.821 | 11.764 | 10.836 | 10.017| 9.292
14.451 13.163 12.042 | 11.061 | 10.201| 9.442
14.857 13.489 | 12.303 11.272 10.371 | 9.580
15.247 13.799 | 12.550 | 11.469 | 10.529| 9.707
15.622 14.094 | 12.783 11.654 | 10.675 | 9.823
15.983 14.375 | 13.003 11.826 | 10.810 | 9.929
16.330 | 14.643 | 13.211 | 11.987 | 10.935 | 10.027 | 9.237
16.663 | 14.898 13.406 | 12.137 | 11.051 | 10.116 | 9.307
16.984 15.141 | 13.591 | 12.278 11.158| 10.198 | 9.370
17.292 15.372 | 13.765 | 12.409 | 11.258 | 10.274 9.427
19.793 17.159 | 15.046 | 13.332 11.925 | 10.757 9.779
14
9.295
8.745
8.244
7.786
7.367
6.982
6.628
6.302
6.002
5.724
5.468
5.229
5.008
4.802
4.611
4.432
4.265
4.108
5.575| 5.324 | 5.092
5.405 5.162
15
9.108
8.559
8.061
7.606
7.191
6.811
6.462
6.142
5.847
4.876 | 4.675
4.489
4.315
4.153
4.001
3.859
16
8.851
8.313
7.824
7.379
6.974
6.604
6.265
5.954
5.668
4.938
4.730
4.536
4.357
4.189 | 4.033
3.887
17
9.122
8.544
8.022
7.549
7.120
6.729
6.373
6.047
5.749
5.475
5.222
4.990
4.775 | 4.576
4.391
4.219
4.059
3.910
18
8.756
8.201
7.702
7.250
6.840
6.467
6.128
5.818
5.534
5.273
5.033
4.812
4.608
4.419
4.243 | 4.080
3.928
19
8.950
8.365
7.839
7.366
6.938
6.550
6.198
5.877
5.584 | 5.316
5.070 | 4.843
4.635
4.442
4.263
4.097| 3.942
20
9.129
8.514
7.963
7.469
7.025
6.623
6.259
5.929
5.628
5.353
5.101
4.870 | 4.657
4.460
4.279
4.110
3.954
6.312| 5.973
5.665 | 5.384
5.127| 4.891
5.149 | 4.909
21
8.649
8.075
7.562
7.102
6.687
4.675
4.476
4.292
4.121
3.963
22
8.772
8.176
7.645
7.170
6.743
6.359
6.011
5.696
5.410
4.690
4.488
4.302
4.130
3.970
5.723 | 5.432
5.746 | 5.451
5.766| 5.467
23
8.883
8.266
7.718
7.230
6.792
6.399
6.044
5.167
4.925
4.703
4.499
4.311
4.137
3.976
24
8.985
8.348 | 7.784
7.283
6.835
6.434
6.073
5.182
4.937
4.713
4.507
4.318
4.143
3.981
25
9.077
8.422
7.843
7.330
6.873
6.464
6.097
5.195
4.948
4.721
4.514
4.323
4.147 | 3.985
4.956 | 4.728
4.964 | 4.734
4.970 | 4.739
26
9.161
8.488
7.896
7.372
6.906
6.491
6.118
5.783
5.480
5.206
4.520
4.328
4.151
3.988
27
8.548
7.943
7.409
6.935
6.514| 6.136
5.798| 5.492
5.215
4.524
4.332
4.154
3.990
28
8.602
7.984
7.441
6.961
6.534
6.152
5.810
5.502
5.223
4.528
4.335
4.157
3.992
29
8.650
8.022
7.470
6.983
6.551
6.166
5.820
5.510
5.229
4.975
4.743
4.531
4.337
4.159
3.994
30
8.694
8.055
7.496
7.003
6.566 | 6.177
5.829 | 5.517
5.235
4.979
4.746
4.534
4.339
4.160
3.995
40
8.951
8.244
7.634
7.105
6.642
6.233
5.871
5.548
5.258
4.997
4.760
4.544
4.347
4.166
3.999](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F16afad9b-824d-42b7-9e40-175f68ea31da%2Ff8c69c99-ff3d-42be-929c-181325e6ed81%2F90ngarp_processed.png&w=3840&q=75)
Transcribed Image Text:EXHIBIT 14B-2
Present Value of an Annuity of $1 in Arrears; 1 r[1 -1 (1+r) n ]
Periods
4%
5%
6%
7%
8%
9%
10%
11%
12%
13%
14%
15%
16%
17%
18%
19%
20%
21%
22%
23%
24%
25%
1
0.962
0.952
0.943
0.935
0.926
0.917
0.909
0.901
0.893
0.885
0.877
0.870
0.862
0.855
0.847
0.840
0.833
0.826
0.820
0.813 | 0.806 | 0.800
2
1.886
1.859
1.833
1.808
1.783
1.759
1.736
1.713
1.690
1.668
1.647
1.626
1.605
1.585
1.566
1.547
1.528
1.509
1.492
1.474
1.457
1.440
3
2.775
2.723
2.673
2.624
2.577
2.531
2.487
2.444
2.402
2.361
2.322
2.283
2.246
2.210 | 2.174
2.140
2.106
2.074
2.042
2.011
1.981
1.952
4
3.630
3.546
3.465
3.387
3.312
3.240
3.170
3.102
3.037
2.974
2.914
2.855
2.798
2.743
2.690
2.639 | 2.589
2.540
2.494
2.448
2.404| 2.362
5
4.452
4.329
4.212
4.100
3.993
3.890
3.791
3.696
3.605
3.517
3.433
3.352
3.274
3.199
3.127
3.058
2.991
2.926
2.864
2.803 2.745
2.689
5.242
5.076
4.917
4.767
4.623
4.486
4.355
4.231
4.111
3.998
3.889
3.784 3.685
3.589 | 3.498
3.410
3.326
3.245
3.167
3.092
3.020
2.951
7
6.002
5.786
5.582
5.389
5.206| 5.033
4.868
4.712
4.564
4.423
4.288
4.160
4.039
3.922
3.812
3.706 | 3.605
3.508
3.416
3.327
3.242
3.161
8
6.733
6.463
6.210
5.971
5.747
5.535
5.335
5.146
4.968
4.799
4.639
4.487
4.344
4.207 | 4.078
3.954
3.837
3.726
3.619
3.518
3.421
3.329
9.
7.435
7.108
6.802
6.515
6.247
5.995
5.759
5.537
5.328
5.132 | 4.946
4.772
4.607
4.451
4.303
4.163
4.031
3.905
3.786
3.673 | 3.566 | 3.463
5.889
4.659 | 4.494
4.836 | 4.656
4.988 | 4.793
5.118 | 4.910
10
8.111
7.722
7.360
7.024
6.710
6.418
6.145
5.650
5.426
5.216
5.019
4.833
4.339
4.192
4.054
3.923
3.799
3.682
3.571
11
8.760
8.306
7.887
7.499
7.139
6.805
6.495
6.207
5.938
5.687
5.453 5.234
5.029
4.486
4.327
4.177
4.035
3.902
3.776
3.656
12
9.385
8.863
8.384
7.943
7.536
7.161
6.814
6.492
6.194
5.918
5.660
5.421
5.197
4.611
4.439
4.278
4.127
3.985
3.851
3.725
13
9.986
9.394
8.853
8.358
7.904
7.487
7.103
6.750
6.424
6.122
5.842
5.583
5.342
4.715
4.533
4.362
4.203
4.053
3.912
3.780
3.962 | 3.824
10.563 9.899
11.118 10.380 | 9.712
11.652 10.838 | 10.106| 9.447
12.166 11.274 10.477 9.763
12.659 | 11.690 | 10.828 | 10.059|| 9.372
13.134 12.085 11.158 | 10.336 9.604
13.590 12.462 | 11.470 | 10.594| 9.818
14.029 | 12.821 | 11.764 | 10.836 | 10.017| 9.292
14.451 13.163 12.042 | 11.061 | 10.201| 9.442
14.857 13.489 | 12.303 11.272 10.371 | 9.580
15.247 13.799 | 12.550 | 11.469 | 10.529| 9.707
15.622 14.094 | 12.783 11.654 | 10.675 | 9.823
15.983 14.375 | 13.003 11.826 | 10.810 | 9.929
16.330 | 14.643 | 13.211 | 11.987 | 10.935 | 10.027 | 9.237
16.663 | 14.898 13.406 | 12.137 | 11.051 | 10.116 | 9.307
16.984 15.141 | 13.591 | 12.278 11.158| 10.198 | 9.370
17.292 15.372 | 13.765 | 12.409 | 11.258 | 10.274 9.427
19.793 17.159 | 15.046 | 13.332 11.925 | 10.757 9.779
14
9.295
8.745
8.244
7.786
7.367
6.982
6.628
6.302
6.002
5.724
5.468
5.229
5.008
4.802
4.611
4.432
4.265
4.108
5.575| 5.324 | 5.092
5.405 5.162
15
9.108
8.559
8.061
7.606
7.191
6.811
6.462
6.142
5.847
4.876 | 4.675
4.489
4.315
4.153
4.001
3.859
16
8.851
8.313
7.824
7.379
6.974
6.604
6.265
5.954
5.668
4.938
4.730
4.536
4.357
4.189 | 4.033
3.887
17
9.122
8.544
8.022
7.549
7.120
6.729
6.373
6.047
5.749
5.475
5.222
4.990
4.775 | 4.576
4.391
4.219
4.059
3.910
18
8.756
8.201
7.702
7.250
6.840
6.467
6.128
5.818
5.534
5.273
5.033
4.812
4.608
4.419
4.243 | 4.080
3.928
19
8.950
8.365
7.839
7.366
6.938
6.550
6.198
5.877
5.584 | 5.316
5.070 | 4.843
4.635
4.442
4.263
4.097| 3.942
20
9.129
8.514
7.963
7.469
7.025
6.623
6.259
5.929
5.628
5.353
5.101
4.870 | 4.657
4.460
4.279
4.110
3.954
6.312| 5.973
5.665 | 5.384
5.127| 4.891
5.149 | 4.909
21
8.649
8.075
7.562
7.102
6.687
4.675
4.476
4.292
4.121
3.963
22
8.772
8.176
7.645
7.170
6.743
6.359
6.011
5.696
5.410
4.690
4.488
4.302
4.130
3.970
5.723 | 5.432
5.746 | 5.451
5.766| 5.467
23
8.883
8.266
7.718
7.230
6.792
6.399
6.044
5.167
4.925
4.703
4.499
4.311
4.137
3.976
24
8.985
8.348 | 7.784
7.283
6.835
6.434
6.073
5.182
4.937
4.713
4.507
4.318
4.143
3.981
25
9.077
8.422
7.843
7.330
6.873
6.464
6.097
5.195
4.948
4.721
4.514
4.323
4.147 | 3.985
4.956 | 4.728
4.964 | 4.734
4.970 | 4.739
26
9.161
8.488
7.896
7.372
6.906
6.491
6.118
5.783
5.480
5.206
4.520
4.328
4.151
3.988
27
8.548
7.943
7.409
6.935
6.514| 6.136
5.798| 5.492
5.215
4.524
4.332
4.154
3.990
28
8.602
7.984
7.441
6.961
6.534
6.152
5.810
5.502
5.223
4.528
4.335
4.157
3.992
29
8.650
8.022
7.470
6.983
6.551
6.166
5.820
5.510
5.229
4.975
4.743
4.531
4.337
4.159
3.994
30
8.694
8.055
7.496
7.003
6.566 | 6.177
5.829 | 5.517
5.235
4.979
4.746
4.534
4.339
4.160
3.995
40
8.951
8.244
7.634
7.105
6.642
6.233
5.871
5.548
5.258
4.997
4.760
4.544
4.347
4.166
3.999
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