Robin Williams has just purchased some equipment for his business. For this equipment he must pay the following amounts at the end of each of the next 5 yrs: $10,900, $7,790, $9,760, $12,190, & $11,070 If the appropriate discount rate is 7.265%, what is the cost in todays dollars of the equipment Mr. Williams purchased today?
Robin Williams has just purchased some equipment for his business. For this equipment he must pay the following amounts at the end of each of the next 5 yrs: $10,900, $7,790, $9,760, $12,190, & $11,070 If the appropriate discount rate is 7.265%, what is the cost in todays dollars of the equipment Mr. Williams purchased today?
Chapter11: Long-term Assets
Section: Chapter Questions
Problem 6EA: Calico Inc. purchased a patent on a new drug. The patent cost $21,000. The patent has a life of...
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Robin Williams has just purchased some equipment for his business. For this equipment he must pay the following amounts at the end of each of the next 5 yrs:
$10,900, $7,790, $9,760, $12,190, & $11,070
If the appropriate discount rate is 7.265%, what is the cost in todays dollars of the equipment Mr. Williams purchased today?
(Do not round factos values. Round final answer 2 decimal places)
Present value $_____
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