Question: Construct a new version of Table 4.8 , assuming that competition drives down profitability (on existing assets as well as new investment) to 11.5% in

Construct a new version of Table 4.8 , assuming that competition drives down profitability

(on existing assets as well as new investment) to 11.5% in year 6, 11% in year 7, 10.5% in year 8, and 8% in year 9 and all later years. What is the value of the concatenator business?

CHALLENGE AppendixLO1

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