A new drill press has a first cost of $10,000. The net annual income is $1500 the first year, which decreases by $250 each year thereafter. After 6 years, the press can be sold for $500. What is the press’ present worth at an interest rate of 12%?

Answer rating: 100% (QA)

Year 0 1 2 3 4 5 6 Initial cost 10000 15000 14750 14500 14250 ... View the full answer