A mine is for sale for $240,000. It is believed the mine will produce a profit of
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A mine is for sale for $240,000. It is believed the mine will produce a profit of $65,000 the first year, but the profit will decline $5000 a year after that, eventually reaching zero, whereupon the mine will be worthless. What rate of return would this $240,000 investment produce for the purchaser of the mine?
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240000 65000 PA i 13 5000 PG i 13 Try i 15 650...View the full answer
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