Question: B D E G 17 18 H 16 Question 3 A privately run, for-profit, prison is considering ways in which it can cut its monthly

B D E G 17 18 H 16 Question 3 A

B D E G 17 18 H 16 Question 3 A privately run, for-profit, prison is considering ways in which it can cut its monthly costs and therefore increase profit. One idea it is considering is to pay a judge to guarantee convicted prisoners in poor health win their appeals and are set free. $49,701 The prison believes it can realize the monthly cost savings below over the initial year of the plan. What is the present value of the first year's monthly cost savings? Assume a discount rate of 8%. 19 4 points 20 21 22 23 24 25 26 5 27 Month Savings ($) PV factors Present Values 1 3,500 0.9259259 3240.7407 2 6,000 0.8573388 5144.0329 3 6,500 0.7938322 5159.9096 4 9,000 0.7350299 6615.2687 9,000 0.6805832 6125.2488 6 9,000 0.6301696 5671.5266 7 9,400 0.5834904 5484.8097 8 9,800 0.5402689 5294.6351 9 4,800 0.500249 2401.195 10 5,000 0.4631935 2315.9674 11 2,000 0.4288829 857.76572 12 3,500 0.3971138 1389.8982 Total 77,500 49700.998 28 29 30 31 32 33 34

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