Oakmont Company has an opportunity to manufacture and sell a new product for a four-year period....
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Oakmont Company has an opportunity to manufacture and sell a new product for a four-year period. The company's discount rate is 18%. After careful study, Oakmont estimated the following costs and revenues for the new product: Cost of equipment needed Working capital needed Overhaul of the equipment in two years Salvage value of the equipment in four years Annual revenues and costs: Sales revenues Variable expenses Fixed out-of-pocket operating costs $ 260,000 $ 87,000 $ 10,500 $ 13,500 $430,000 $210,000 $ 88,000 When the project concludes in four years the working capital will be released for investment elsewhere within the company. Required: determine the appropriate discount factor(s) using tables. Calculate the net present value of this investment opportunity. EXHIBIT 148-1 Present Value of $1(+) Periods 4% 5% 6% 1 2 3 4 8% 9% 0.962 0952 0.943 0.935 | 0.926 | 0.917 0925 0907 0890 0.873 0.857 0.842 0.889 0.864 0.855 0823 0.792 0.763 0.735 7% 12% 0.909 0.826 0812 0.840 0816 0.794 0.772 0.751 0.731 0.893 0.797 0.712 18% 17% 16% 15% 14% 13% 11% 10% 0.870 0885 0877 0.901 0.862 0.855 | 0.847 0.783 0.769 0.756 0.743 0.731 0.718 0693 22% 20% 19% 21% 0.840 0.833 0.826 0.820 0.706 0.694 0.683 0.672 23% 24% 25% 0.806 0.800 0.813 0.661 0.650 0.640 5 0.822 0.784 0.747 0.713 0681 0.708 0650 0.621 0.683 0.659 0636 0.593 0.567 6 7 8 0.731 9 0.790 0.746 0.705 0760 0.711 0.665 0.627 0.677 0.703 0.645 0.592 0.666 0630 0.596 0.564 0.535 0.583 0547 0.513 0482 0.623 0.582 0540 0.502 0.467 0.434 0.500 0.460 0.544 0.424 | 0.391. 10 0.676 0.614 0.558 0.508 0.463 0422 11 0.650 0585 0527 0475 0429 0.388 12 0.625 0.557 0497 0444 0.397 0.356 13 0.601 0530 0.469 0415 14 15 16 17 18 19 20 0456 0377 0312 21 0439 0.359 0.294 22 0422 0.342 0.278 0.226 0.184 0.150 0.123 23 0.406 0.326 0.262 0211 0.170 0.138 0.112 0.091 24 25 26 27 21 29 30 0308 0231 0.174 40 0208 0142 0.097 0.057 0046 0032 0022 0015 0011 0.675 0.658 0.641 0.613 0.592 0572 0.552 0.534 0419 0402 0.386 0.370 0.437 0497 0476 0.456 0.543 | 0.519 0.303 0335 0319 0.370 0352 0.480 0.456 0.432 0410 0.390 0.507 0.249 0.279 0.263 0.314 0.296 0452 0.425 0400 0376 0.354 0.333 0.218 0204 0.327 0.351 0.305 0.285 0.266 0.404 0.376 0.249 0.233 0.167 0.194 0.180 0.243 0.263 0.225 0.209 0.308 0.284 0361 0.333 0.149 0.126 0.116 0.107 0.137 0.191 0.176 0.162 0.295 0.270 0322 0.247 0.227 0.208 0.386 0.352 0.086 0.112 0.103 0.094 0.123 0237 0215 0.162 0.148 0.135 0.195 0.178 0287 0.261 0350 0317 0.102 0092 0.083 0.076 0.069 0.208 0.187 0.168 0.152 0137 0.124 0.112 0319 0.286 0.257 0.231 0.068 0.084 0.075 0.061 0229 0.258 0204 0.182 0.163 0.145 0.130 0.116 0.104 0.093 0.368 0326 0.290 0.088 0.078 0.049 0062 0.055 0.069 0.181 0.160 0.141 0.125 0.1110099 0.577 0.505 0.442 0.388 0.340 0.299 0.263 0232 0.205 0074 0.057 0051 0.045 0065 0239 0.209 0.183 0.160 0.140 0.123 0.108 0095 0.555 0.481 0417 0.362 0.315 0.275 0.062 0.054 0.047 0042 0534 0.458 0.394 0339 0.292 0.252 0.218 0.188 0.163 0.141 0.123 0.107 0.093 0.081 0.071 0.039 0034 0.052 0.045 0.080 0.146 0.125 0.108 0.093 0.371 0513 0436 0317 0270 0.231 0.198 0.170 0.038 0.032 0.028 0.069 0.111 0095 0.081 0494 0416 0350 0.296 0.250 0.212 0.180 0.153 0.130 0.031 0.017 0.027 0.023 0.194 0277 0232 0.164 0.138 0.116 0.098 0.083 0.070 0.060 0475 0.396 0.331 0.026 0.022 0.019 0.016 0.014 0.012 0.061 0051 0.178 0.149 0073 0.124 0087 0.104 0.258 0215 0.015 0.013 0.011 0.009 0.077 0.064 0053 0044 0.031 0.026 0.022 0.018 0.037 0.112 0.093 0.242 0.199 0.164 0.135 0.013 0.011 0022 0018 0015 0.009 0.007 0.101 0083 0046 0.068 0.056 0.038 0032 0.026 0.006 0.074 0.060 0049 0040 0033 0027 0.022 0.018 0.015 0.012 0.010 0.009 0.007 0.007 0.006 0.005 0035 0028 0019 0015 0013 0010 0.008 0.023 0390 0310 0.247 0.197 0.158 0.126 0.102 0.082 0.066 0.053 0.043 0.005 0.004 0.009 0.007 0.006 0.074 0.059 0.047 0.038 0.030 0.024 0.020 | 0.016 0.013 0.010. 0.375 0295 0.213 0.184 0.146 0.116 0092 0.009 0.017 0.014 0.011 0.007 0.006 0.005 0.004 0.003 0.066 0053 0042 0033 0026 0021 0361 0281 0.220 0.172 0.135 0.106 0084 0.018 0.009 0.007 0.006 0014 0011 0.023 0005 0.004 0.037 0.029 0.003 0347 0268 0.207 0161 0.125 0.098 0076 0.060 0.047 0.006 0.005 0.004 0.003 0.002 0.002 0333 0255 0.196 0.150 0.116 0090 0.069 0.054 0.042 0033 0.026 0.020 0.016 0.012 0.010 0.008 0.008 0.006 0.005 0.004 0003 0.002 0.002 0.002 0029 0022 0017 0014 0.011 0.063 0048 0.141 0.107 0082 0037 0321 0.243 0.185 0.009 0015 0012 0007 0.005 0.004 0003 0.003 0.002 0.002 0.001 0.131 0.099 0.075 0.057 0.044 0.033 0.026 0.020 0.004 0.003 0.002 0.001 0.008 0.001 0.005 0.000 0.000 0.6241 0.609 0.593 0.579 0.564 0.551 0.537 0.524 0.512 0316 0.499 0482 0.467 0.451 0437 0423 0410 0.355 0.341 0.328 0.289 0.275 0.262 0.235 0.222 0.210 0.191 0.179 0.168 0.155 0.144 0.134 0.055 0.044 0.084 0.040 0.035 0.036 0.032 0.028 0.069 0.060 0.030 0.026 | 0.023 0059 0.051 0.044 0.024 0.021 0.018 0.051 0.043 0.037 0.020 0.014 0.043 0037 0.031 0.002 0.000 0.000 0.000 0.001 EXHIBIT 14B-2 Present Value of an Annuity of $1 in Arrears, (+ Periods T 2 3 4 6 5.242 5.076 7 6.002 4917 5.582 4% 5% 6% 7% 8% 0.962 0.952 0.943 0.935 0.926 1.859 1.886 1.833 1808 1.783 1.759 2.775 2.723 2.673 2.624 2.577 2.531 3.630 3.546) 3.465 3387 3.312 3.240 4452 3.993 3.890 4.329 4.212 4.100 4.767 5.389 5.786 9% 0.917 10% 0.909 1.736 8 6.733 6.463 9 7435 7.108 10 8.111 7.722 11 8.7601 8.306 12 9.385 8863 6814 5.889 6.207 6.492 13 14 10563 9899 9.295 8.745 15 11.118 10.380 9.712 9.108 16 18 19 20 21 22 23 24 25 20 27 2N 29 30 44 40 19 793 17.159 15.046 13.332 11.925 10.757 9.779 8951 20% 21% 13% 14% 11% 12% 15% 16% 18% 17 % 19% 0.901 0.893 0.885 0.877 0.870 0.862 0855 0.847 0.840 0.833 0826 0.820 1492 1.713 1.690 1.547 1528 1.509 1,647 1.668 1.585 1566 2487 2444 2.402 2.361 2.322 2.283 2.246 2.210 2.174 2.140 2.106 2.074 2042 2011 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 3.791 3.605 3517 3058 2.926 2.864 3.696 2.991 3.433 3.352 3.274 3.199 3.127 4.623 4.486 3.998 4.355 4.231 3.889 3.784 3.685 3.589 3498 | 3410 3.326 3.245 3.167 5.206 5033 4.868 4.712 4.564 4423 4.288 4.160 3.508 3.416 3.327 4.039 3.922 3.812 3.706 3.605 6.210 5.971 5.747 5.535 4.799 5.335 5.146 4.968 4344 4.639 4487 4.207 3.837 3.726 | 3.619 | 3.518 4.078 3.954 4.303 3.786 4.163 4.031 6.802 6315 6.247 5.995 5.759 5.537 5.328 5.132 4.946 4.772 4.607 4.451 3.923 3.799 7.360 7.024 6.710 6418 6.145 4.833 4.659 4.494 4.339 4.192 4.054 5.650 5.426 5.216 5.019 4.656 4486 4327 6495 4.177 4.035 5.938 3.902 7.887 7.499 7.139 6.805 5.687 5453 5.234 5029 4.836 6.194 5.918 5660 5.421 4.793 4439 8.384 7.943 7.536 7.161 5.197 4988 4.611 4.278 3.985 4.127 3.851 3.725 4.203 4053 3.912 3.780 9.986 9394 8853 8.358 7.904 7.487 7.103 6.750 6.424 6.122 5842 5.583 5.342 5.118 4.910 4.715 4.533 4.362 6.628 6302 8.244 7.786 7367 6982 3.962 3.824 6.002 5.724 5.468 5.229 5008 4.802 4.611 4.432 4.265 4.108 6462 8.061 5.847 5.092 7606 7.191 6811 5575 5324 4.876 4.675 4.001 8.559 6.142 4.315 6.604 6.265 5.954 5.668 11.652 10 838 10.106 9.447 8.851 8313 7824 7.379 6974 4.938 5405 5.162 4.033 4.730 4536 4.357 4.189 5.749 5475 5.222 4.990 4.775 4.576 4.391 4.219 4.059 17 12.166 11.274 10477 9.763 9.122 8.544 8022 7.549 7.120 6.729 6.373 6047 12.659 11.690 10.828 10.059 9.372 8.756 8.201 7.702 7250 6.840 6.467 6.128 5818 5.534 5.273 5033 4.812 4.608 4419 4.243 4.080 3.928 6.550 8.950 8365 7839 7.366 6.938 13.134 12.085 11.158 10.336 9.604 6.198 5377 4843 5.384 5316 5.070 4.635 4442 4.263 4.097 3.942 5.929 13.590 12.462 11470 10.594 9.818 6.623 6.259 9.129 8514 7.963 7469 7025 5.628 5353 5.101 4870 4.657 4460 4.279 4.110 3.954 14.029 12.821 11.764 10x36 10.017 9292 8.649 8075 7.562 7.102 4.675 4476 4292 4.121 3.963 6.687 6312 5.973 5665 5.384 5.127 4891 14451 13.163 12.042 11.061 10.201 9442 8.772 8.176 7645 | 7.170 6.743 6.359 6011 5696 5410 5.149 4.909 4690 4.488 4.302 4.130 3.970 8.883 8.266 14.857 13489 12 303 11.272 10.371 9.580 7718 7.230 6.792 6399 4.137 6044 5.723 5432 5.167 4925 4.703 4499 4311 3976 6335 8348 7.784 7.283 6434 6073 5.746 5.451 5.182 4.937 4.713 4307 4.318 4.143 3.981 15.247 13.799 12.550 11 469 10.529 9.707 8.985 4,147 3985 6097 5.766 5467 5.195 4948 4.721 4514 4.323 15.622 14.094 12.783 11654 10 675 9823 9077 8422 7843 7330 6873 6464 8485 7896 7.372 6906 6491 6.118 5.783 5480 5206 4956 4.728 4.520 4.328 4.151 3988 15.983 14.375 13.005 11.826 10 810 9929 9.161 6514 6.136 5.798 5.492 5.215 4.964 4.734 4524 4.332 4.154 8.548 7.943 7409 6.935 16.330 14.643 13211 11.987 10 935 10027 9.237 7.984 7441 6.961 6.534 6.152 5810 5.502 5.223 8.602 4.970 4.739 4528 4335 4.157 3992 16.663 14.898 13.406 12.137 11051 10.116 9307 4.159 1994 16.984 15.141 11.591 12.278 11.158 10.198 9370 650 022 7.470 6983 6.551 6.166 5820 5.510 5.229 4.975 4.743 4.531 4.337 17.292 15.372 13.765 12.409 11 258 10 274 9427 055 7.496 7.003 6.566 6.177 5829 5517 5215 4979 4.746 4.534 4.359160995 8244 7.634 7.105 6.642 6211 5871 5.548 5.258 4.997 4.760 4.344 4.347 4.166 3.999 22% 1.626 1.605 23% 24% 0.813 0.806 0.800 1440 1474 1457 1981 1952 25% 2.803 2.745 2.689 3.092 3020 2.951 3.242 3.161 3.421 3.329 3.905 3.673 3.566 3.463 3.682 3.571 3.776 3.656 4,489 4.153 3.859 3887 3.910 3990 Oakmont Company has an opportunity to manufacture and sell a new product for a four-year period. The company's discount rate is 18%. After careful study, Oakmont estimated the following costs and revenues for the new product: Cost of equipment needed Working capital needed Overhaul of the equipment in two years Salvage value of the equipment in four years Annual revenues and costs: Sales revenues Variable expenses Fixed out-of-pocket operating costs $ 260,000 $ 87,000 $ 10,500 $ 13,500 $430,000 $210,000 $ 88,000 When the project concludes in four years the working capital will be released for investment elsewhere within the company. Required: determine the appropriate discount factor(s) using tables. Calculate the net present value of this investment opportunity. EXHIBIT 148-1 Present Value of $1(+) Periods 4% 5% 6% 1 2 3 4 8% 9% 0.962 0952 0.943 0.935 | 0.926 | 0.917 0925 0907 0890 0.873 0.857 0.842 0.889 0.864 0.855 0823 0.792 0.763 0.735 7% 12% 0.909 0.826 0812 0.840 0816 0.794 0.772 0.751 0.731 0.893 0.797 0.712 18% 17% 16% 15% 14% 13% 11% 10% 0.870 0885 0877 0.901 0.862 0.855 | 0.847 0.783 0.769 0.756 0.743 0.731 0.718 0693 22% 20% 19% 21% 0.840 0.833 0.826 0.820 0.706 0.694 0.683 0.672 23% 24% 25% 0.806 0.800 0.813 0.661 0.650 0.640 5 0.822 0.784 0.747 0.713 0681 0.708 0650 0.621 0.683 0.659 0636 0.593 0.567 6 7 8 0.731 9 0.790 0.746 0.705 0760 0.711 0.665 0.627 0.677 0.703 0.645 0.592 0.666 0630 0.596 0.564 0.535 0.583 0547 0.513 0482 0.623 0.582 0540 0.502 0.467 0.434 0.500 0.460 0.544 0.424 | 0.391. 10 0.676 0.614 0.558 0.508 0.463 0422 11 0.650 0585 0527 0475 0429 0.388 12 0.625 0.557 0497 0444 0.397 0.356 13 0.601 0530 0.469 0415 14 15 16 17 18 19 20 0456 0377 0312 21 0439 0.359 0.294 22 0422 0.342 0.278 0.226 0.184 0.150 0.123 23 0.406 0.326 0.262 0211 0.170 0.138 0.112 0.091 24 25 26 27 21 29 30 0308 0231 0.174 40 0208 0142 0.097 0.057 0046 0032 0022 0015 0011 0.675 0.658 0.641 0.613 0.592 0572 0.552 0.534 0419 0402 0.386 0.370 0.437 0497 0476 0.456 0.543 | 0.519 0.303 0335 0319 0.370 0352 0.480 0.456 0.432 0410 0.390 0.507 0.249 0.279 0.263 0.314 0.296 0452 0.425 0400 0376 0.354 0.333 0.218 0204 0.327 0.351 0.305 0.285 0.266 0.404 0.376 0.249 0.233 0.167 0.194 0.180 0.243 0.263 0.225 0.209 0.308 0.284 0361 0.333 0.149 0.126 0.116 0.107 0.137 0.191 0.176 0.162 0.295 0.270 0322 0.247 0.227 0.208 0.386 0.352 0.086 0.112 0.103 0.094 0.123 0237 0215 0.162 0.148 0.135 0.195 0.178 0287 0.261 0350 0317 0.102 0092 0.083 0.076 0.069 0.208 0.187 0.168 0.152 0137 0.124 0.112 0319 0.286 0.257 0.231 0.068 0.084 0.075 0.061 0229 0.258 0204 0.182 0.163 0.145 0.130 0.116 0.104 0.093 0.368 0326 0.290 0.088 0.078 0.049 0062 0.055 0.069 0.181 0.160 0.141 0.125 0.1110099 0.577 0.505 0.442 0.388 0.340 0.299 0.263 0232 0.205 0074 0.057 0051 0.045 0065 0239 0.209 0.183 0.160 0.140 0.123 0.108 0095 0.555 0.481 0417 0.362 0.315 0.275 0.062 0.054 0.047 0042 0534 0.458 0.394 0339 0.292 0.252 0.218 0.188 0.163 0.141 0.123 0.107 0.093 0.081 0.071 0.039 0034 0.052 0.045 0.080 0.146 0.125 0.108 0.093 0.371 0513 0436 0317 0270 0.231 0.198 0.170 0.038 0.032 0.028 0.069 0.111 0095 0.081 0494 0416 0350 0.296 0.250 0.212 0.180 0.153 0.130 0.031 0.017 0.027 0.023 0.194 0277 0232 0.164 0.138 0.116 0.098 0.083 0.070 0.060 0475 0.396 0.331 0.026 0.022 0.019 0.016 0.014 0.012 0.061 0051 0.178 0.149 0073 0.124 0087 0.104 0.258 0215 0.015 0.013 0.011 0.009 0.077 0.064 0053 0044 0.031 0.026 0.022 0.018 0.037 0.112 0.093 0.242 0.199 0.164 0.135 0.013 0.011 0022 0018 0015 0.009 0.007 0.101 0083 0046 0.068 0.056 0.038 0032 0.026 0.006 0.074 0.060 0049 0040 0033 0027 0.022 0.018 0.015 0.012 0.010 0.009 0.007 0.007 0.006 0.005 0035 0028 0019 0015 0013 0010 0.008 0.023 0390 0310 0.247 0.197 0.158 0.126 0.102 0.082 0.066 0.053 0.043 0.005 0.004 0.009 0.007 0.006 0.074 0.059 0.047 0.038 0.030 0.024 0.020 | 0.016 0.013 0.010. 0.375 0295 0.213 0.184 0.146 0.116 0092 0.009 0.017 0.014 0.011 0.007 0.006 0.005 0.004 0.003 0.066 0053 0042 0033 0026 0021 0361 0281 0.220 0.172 0.135 0.106 0084 0.018 0.009 0.007 0.006 0014 0011 0.023 0005 0.004 0.037 0.029 0.003 0347 0268 0.207 0161 0.125 0.098 0076 0.060 0.047 0.006 0.005 0.004 0.003 0.002 0.002 0333 0255 0.196 0.150 0.116 0090 0.069 0.054 0.042 0033 0.026 0.020 0.016 0.012 0.010 0.008 0.008 0.006 0.005 0.004 0003 0.002 0.002 0.002 0029 0022 0017 0014 0.011 0.063 0048 0.141 0.107 0082 0037 0321 0.243 0.185 0.009 0015 0012 0007 0.005 0.004 0003 0.003 0.002 0.002 0.001 0.131 0.099 0.075 0.057 0.044 0.033 0.026 0.020 0.004 0.003 0.002 0.001 0.008 0.001 0.005 0.000 0.000 0.6241 0.609 0.593 0.579 0.564 0.551 0.537 0.524 0.512 0316 0.499 0482 0.467 0.451 0437 0423 0410 0.355 0.341 0.328 0.289 0.275 0.262 0.235 0.222 0.210 0.191 0.179 0.168 0.155 0.144 0.134 0.055 0.044 0.084 0.040 0.035 0.036 0.032 0.028 0.069 0.060 0.030 0.026 | 0.023 0059 0.051 0.044 0.024 0.021 0.018 0.051 0.043 0.037 0.020 0.014 0.043 0037 0.031 0.002 0.000 0.000 0.000 0.001 EXHIBIT 14B-2 Present Value of an Annuity of $1 in Arrears, (+ Periods T 2 3 4 6 5.242 5.076 7 6.002 4917 5.582 4% 5% 6% 7% 8% 0.962 0.952 0.943 0.935 0.926 1.859 1.886 1.833 1808 1.783 1.759 2.775 2.723 2.673 2.624 2.577 2.531 3.630 3.546) 3.465 3387 3.312 3.240 4452 3.993 3.890 4.329 4.212 4.100 4.767 5.389 5.786 9% 0.917 10% 0.909 1.736 8 6.733 6.463 9 7435 7.108 10 8.111 7.722 11 8.7601 8.306 12 9.385 8863 6814 5.889 6.207 6.492 13 14 10563 9899 9.295 8.745 15 11.118 10.380 9.712 9.108 16 18 19 20 21 22 23 24 25 20 27 2N 29 30 44 40 19 793 17.159 15.046 13.332 11.925 10.757 9.779 8951 20% 21% 13% 14% 11% 12% 15% 16% 18% 17 % 19% 0.901 0.893 0.885 0.877 0.870 0.862 0855 0.847 0.840 0.833 0826 0.820 1492 1.713 1.690 1.547 1528 1.509 1,647 1.668 1.585 1566 2487 2444 2.402 2.361 2.322 2.283 2.246 2.210 2.174 2.140 2.106 2.074 2042 2011 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 3.791 3.605 3517 3058 2.926 2.864 3.696 2.991 3.433 3.352 3.274 3.199 3.127 4.623 4.486 3.998 4.355 4.231 3.889 3.784 3.685 3.589 3498 | 3410 3.326 3.245 3.167 5.206 5033 4.868 4.712 4.564 4423 4.288 4.160 3.508 3.416 3.327 4.039 3.922 3.812 3.706 3.605 6.210 5.971 5.747 5.535 4.799 5.335 5.146 4.968 4344 4.639 4487 4.207 3.837 3.726 | 3.619 | 3.518 4.078 3.954 4.303 3.786 4.163 4.031 6.802 6315 6.247 5.995 5.759 5.537 5.328 5.132 4.946 4.772 4.607 4.451 3.923 3.799 7.360 7.024 6.710 6418 6.145 4.833 4.659 4.494 4.339 4.192 4.054 5.650 5.426 5.216 5.019 4.656 4486 4327 6495 4.177 4.035 5.938 3.902 7.887 7.499 7.139 6.805 5.687 5453 5.234 5029 4.836 6.194 5.918 5660 5.421 4.793 4439 8.384 7.943 7.536 7.161 5.197 4988 4.611 4.278 3.985 4.127 3.851 3.725 4.203 4053 3.912 3.780 9.986 9394 8853 8.358 7.904 7.487 7.103 6.750 6.424 6.122 5842 5.583 5.342 5.118 4.910 4.715 4.533 4.362 6.628 6302 8.244 7.786 7367 6982 3.962 3.824 6.002 5.724 5.468 5.229 5008 4.802 4.611 4.432 4.265 4.108 6462 8.061 5.847 5.092 7606 7.191 6811 5575 5324 4.876 4.675 4.001 8.559 6.142 4.315 6.604 6.265 5.954 5.668 11.652 10 838 10.106 9.447 8.851 8313 7824 7.379 6974 4.938 5405 5.162 4.033 4.730 4536 4.357 4.189 5.749 5475 5.222 4.990 4.775 4.576 4.391 4.219 4.059 17 12.166 11.274 10477 9.763 9.122 8.544 8022 7.549 7.120 6.729 6.373 6047 12.659 11.690 10.828 10.059 9.372 8.756 8.201 7.702 7250 6.840 6.467 6.128 5818 5.534 5.273 5033 4.812 4.608 4419 4.243 4.080 3.928 6.550 8.950 8365 7839 7.366 6.938 13.134 12.085 11.158 10.336 9.604 6.198 5377 4843 5.384 5316 5.070 4.635 4442 4.263 4.097 3.942 5.929 13.590 12.462 11470 10.594 9.818 6.623 6.259 9.129 8514 7.963 7469 7025 5.628 5353 5.101 4870 4.657 4460 4.279 4.110 3.954 14.029 12.821 11.764 10x36 10.017 9292 8.649 8075 7.562 7.102 4.675 4476 4292 4.121 3.963 6.687 6312 5.973 5665 5.384 5.127 4891 14451 13.163 12.042 11.061 10.201 9442 8.772 8.176 7645 | 7.170 6.743 6.359 6011 5696 5410 5.149 4.909 4690 4.488 4.302 4.130 3.970 8.883 8.266 14.857 13489 12 303 11.272 10.371 9.580 7718 7.230 6.792 6399 4.137 6044 5.723 5432 5.167 4925 4.703 4499 4311 3976 6335 8348 7.784 7.283 6434 6073 5.746 5.451 5.182 4.937 4.713 4307 4.318 4.143 3.981 15.247 13.799 12.550 11 469 10.529 9.707 8.985 4,147 3985 6097 5.766 5467 5.195 4948 4.721 4514 4.323 15.622 14.094 12.783 11654 10 675 9823 9077 8422 7843 7330 6873 6464 8485 7896 7.372 6906 6491 6.118 5.783 5480 5206 4956 4.728 4.520 4.328 4.151 3988 15.983 14.375 13.005 11.826 10 810 9929 9.161 6514 6.136 5.798 5.492 5.215 4.964 4.734 4524 4.332 4.154 8.548 7.943 7409 6.935 16.330 14.643 13211 11.987 10 935 10027 9.237 7.984 7441 6.961 6.534 6.152 5810 5.502 5.223 8.602 4.970 4.739 4528 4335 4.157 3992 16.663 14.898 13.406 12.137 11051 10.116 9307 4.159 1994 16.984 15.141 11.591 12.278 11.158 10.198 9370 650 022 7.470 6983 6.551 6.166 5820 5.510 5.229 4.975 4.743 4.531 4.337 17.292 15.372 13.765 12.409 11 258 10 274 9427 055 7.496 7.003 6.566 6.177 5829 5517 5215 4979 4.746 4.534 4.359160995 8244 7.634 7.105 6.642 6211 5871 5.548 5.258 4.997 4.760 4.344 4.347 4.166 3.999 22% 1.626 1.605 23% 24% 0.813 0.806 0.800 1440 1474 1457 1981 1952 25% 2.803 2.745 2.689 3.092 3020 2.951 3.242 3.161 3.421 3.329 3.905 3.673 3.566 3.463 3.682 3.571 3.776 3.656 4,489 4.153 3.859 3887 3.910 3990
Expert Answer:
Related Book For
Managerial Accounting
ISBN: 978-0077522940
15th edition
Authors: Ray Garrison, Eric Noreen, Peter Brewer
Posted Date:
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