Crane Corp. is thinking about opening a soccer camp in southern California. To start the camp,...
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Crane Corp. is thinking about opening a soccer camp in southern California. To start the camp, Crane would need to purchase land and build four soccer fields and a sleeping and dining facility to house 150 soccer players. Each year, the camp would be run for 8 sessions of 1 week each. The company would hire college soccer players as coaches. The camp attendees would be male and female soccer players ages 12-18. Property values in southern California have enjoyed a steady increase in value. It is expected that after using the facility for 20 years, Crane can sell the property for more than it was originally purchased for. The following amounts have been estimated. Cost of land. Cost to build soccer fields, dorm, and dining facility $331,500 $663,000 Annual cash inflows assuming 150 players and 8 weeks $1,016,600 Annual cash outflows Estimated useful life Salvage value Discount rate $928,200 20 years $1,657,500 8% TABLE 1 Future Value of 1 (n) Periods 4% 5% 6% 7% 0 1.00000 1.00000 1.00000 J 1.04000 1.05000 1.06000 2 1.08160 1.10250 1.12360 3 1.12486 1.15763 1.19102 1.22504 8% 1.00000 1.00000 1.07000 1.08000 1.14490 1.16640 1.25971 9% 10% 11% 12% 15% 4 1.16986 1.21551 5 1.21665 1.27628 6 1.26532 7 1.31593 8 1.36857 1.47746 1.59385 9 1.423311 1.55133 1.68948 10 1.48024 1.62889 1.79085 11 1.53945 1.71034 12 1345 1.60103 1.79586 15 16 1.00000 1.00000 1.09000 1.10000 1.18810 1.21000 1.29503 1.26248 1.31080 1.36049 1.41158 1.33823 1.40255 1.46933 1.53862 1.61051 1.34010 1.41852 1.50073 1.58687 1.67710 1.77156 1.87041 1.40710 1.50363 1.71382 1.60578 1.82804 1.94872 2.07616 1.85093 1.71819 1.99256 2.14359 2.30454 1.83846 1.99900 2.17189 2.35795 2.55803 2.77308 1.96715 2.15892 2.36736 2.59374 2.83942 3.10585 1.89830 2.10485 2.33164 2.58043 2.85312 3.15176 3.47855 2.01220 2.25219 2.51817 2.81267 3.13843 3.49845 3.89598 5.35025 1.66507 1.88565 2.13293 2.40985 2.71962 3.06581 3.45227 3.88328 4.36349 6.15279 1.73168 1.97993 2.26090 2.57853 2.93719 3.34173 3.79750 4.31044 4.88711 7.07571 1.80094 2.07893 2.39656 2.75903 3.17217 3.64248 4.17725 4.78459 5.47357 1.87298 2.18287 2.54035 2.95216 3.42594 1.00000 1.00000 1.00000 1.11000 1.12000 1.15000 1.23210 1.25440 1.32250 1.33100 1.36763 1.40493 1.52088 1.46410 1.51807 1.57352 1.74901 1.68506 1.76234 2.01136 1.97382 2.31306 2.21068 2.66002 2.47596 3.05902 3.51788 4.04556 4.65239 8.13706. 3.97031 4.59497 17 18 19 20 1.94790 2.29202 2.02582 2.40662 2.85434 3.37993 3.99602 2.10685 2.52695 3.02560 3.61653 4.31570 2.19112 2.65330 3.20714 3.86968 4.66096 2.69277 3.15882 3.70002 4.32763 5.05447 4.71712 5.55992 5.31089 6.13039 5.89509 6.86604 10.76126 6.54355 7.68997 12.37545 9.35762 5.14166 5.60441 6.11591 7.26334 8.61276 14.23177 6.72750 8.06231 9.64629 16.36654 TABLE 2 Future Value of an Annuity of 1 (n) Payments 4% 5% 6% 7% 8% 9% 10% 11% 12% 15% 1 2 3 4 2.08000 3.24640 4.50611 5 5.86660 6 7 7.33592 8.92280 8 9 10 11 12 13 14 15 16 17 18 19 20 6.63298 6.80191 6.97532 7.1533 7.89829 8.14201 8.39384 8.6540 9.21423 9.54911 9.89747 10.2598 10.63663 11.02847 11.43589 11.85943 12.29969 13.72682 10.58280 11.02656 11.49132 11.9780 12.48756 13.02104 13.57948 14.16397 14.77566 16.78584 12.00611 12.57789 13.18079 13.8164 14.48656 15.19293 15.93743 16.72201 17.54874 20.30372 13.48635 14.20679 14.97164 15.7836 16.64549 17.56029 18.53117 19.56143 20.65458 24.34928 15.02581 15.91713 16.86994 17.8885 18.97713 20.14072 21.38428 22.71319 24.13313 29.00167 16.62684 17.71298 18.88214 20.1406 21.49530 22.95339 24.52271 26.21164 28.02911 34.35192. 18.29191 19.59863 21.01507 22.5505 24.21492 26.01919 27.97498 30.09492 32.39260 40.50471 20.02359 21.57856 23.27597 25.1290 27.15211 29.36092 31.77248 34.40536 37.27972 47.58041 21.82453 23.65749 25.67253 27.8881 30.32428 33.00340 35.94973 39.18995 42.75328 55.71747 23.69751 25.84037 28.21288 30.8402 33.75023 36.97351 40.54470 44.50084 48.88367 65.07509 25.64541 28.13238 30.90565 33.9990 37.45024 41.30134 45.59917 50.39593 55.74972 75.83636 27.67123 30.53900 33.75999 37.3790 41.44626 46.01846 51.15909 56.93949 63.43968 88.21181. 29.77808 33.06595 36.78559 40.9955 45.76196 51.16012 57.27500 64.20283 72.05244 102.44358 1.00000 1.00000 1.00000 1.0000 1.00000 1.00000 1.00000 1.00000 1.00000 1.00000 2.04000 2.05000 2.06000 2.0700 2.09000 2.10000 2.11000 2.12000 2.15000 3.12160 3.15250 3.18360 3.2149 3.27810 3.31000 3.34210 3.37440 3.47250 4.24646 4.31013 4.37462 4.4399 4.57313 4.64100 4.70973 4.77933 4.99338 5.41632 5.52563 5.63709 5.7507 5.98471 6.10510 6.22780 6.35285 6.74238 7.52334 7.71561 7.91286 8.11519. 8.75374 9.20044 9.48717 9.78327 10.08901 11.06680 (14) Present lue of I Periods 4% 5% 6% 7% 8% 9% 10% 11% 12% 15% 12 96154 95238 94340 0.93458 .92593 91743 .90909 .90090 .89286 .86957 2 92456 .90703 89000. 0.87344 .85734 .84168 .82645 .81162 .79719 .75614 3 88900 .86384 .83962 0.81630 .79383 .77218 .75132 .73119 .71178 .65752 4 85480 .82270 .79209 0.76290 .73503 .70843 .68301 .65873 .63552 .57175 5 .82193 .78353 .74726 0.71299 .68058 .64993 .62092 .59345 .56743 49718 819 .79031 .74622 .70496 0.66634 .63017 .59627 .56447 .53464 50663 43233 .75992 .71068 .66506 0.62275 .58349 .54703 .51316 48166 45235 .37594 .73069 .67684 .62741 0.58201 54027 50187 .46651 .43393 .40388 .32690 9 .70259 .64461 59190 0.54393 .50025 46043 .42410 .39092 .36061 28426 10 .67556 .61391 55839 0.50835 .46319 .42241 .38554 .35218 .32197 24719 11 .64958 58468 52679 0.47509 .42888 38753 .35049 .31728 .28748 21494 12 .62460 55684 49697 0.44401 .39711 .35554 .31863 28584. 25668 .18691 13 .60057 53032 46884 0.41496 36770 .32618 .28966 .25751 22917 .16253 14 57748 .50507 44230 0.38782 34046 29925 26333 .23199 20462 .14133 15 55526 48102 41727 0.36245 .31524 27454 23939 20900. .18270 .12289 16 53391 45811 39365 0.33873 .29189 25187 21763 .188291 .16312 .10687 17 51337 43630 37136 0.31657 .27027 23107 .19785 .16963 .14564 .09293 18 49363 .41552 35034 0.29586 25025 21199 .17986 .15282 .13004 .08081 19 47464 39573 33051 0.27615 23171 19449 20 45639 37689. 31180 0.25842 21455 .17843 .16351 .14864 .13768. .11611 .07027 .12403 .10367 .06110 TABLE 4 Present Value of an Annuity of 1 (n) Payments 4% 5% 6% 7% 1 96154 .95238 2 1.88609 1.85941 3 2.77509 4 3.62990 5 4.45182 6 7 8 9 10 11 8.76048 8.30641 94340 0.93458 1.83339 1.80802 2.72325 2.67301 2.62432 3.54595 3.46511 3.38721 4.32948 4.21236 4.10020 5.24214 5.07569 4.91732 4.76654 6.00205 5.78637 5.58238 5.38929 6.73274 6.46321 6.20979 5.97130 7.43533 7.10782 6.80169 6.51523 8.11090 7.72173 7.36009 7.02358 7.88687 7.49867 12 9.38507 8.86325 8.38384 7.94269 13 14 15 16 17 18 19 20 11.65230 10.83777 10.10590 12.16567 11.27407 10.47726 12.65930 11.68959 10.82760 13.13394 12.08532 13.59033 12.46221 8% 9% 10% .92593 91743 .90909 1.78326 1.75911 1.73554 2.57710 2.53130 2.48685 3.31213 3.23972 3.16986 3.99271 3.88965 3.79079 3.69590 3.60478 3.35216 4.62288 4.48592 4.35526 4.23054 4.11141 3.78448 5.20637 5.03295 4.86842 4.71220 4.56376 4.16042 5.74664 5.53482 5.33493 5.14612 4.96764 4.48732 6.24689 5.99525 5.75902 5.53705 5.32825 4.77158 6.71008 6.41766 6.14457 5.88923 5.65022 5.01877 7.13896 6.80519 6.49506 6.20652 5.93770 5.23371 7.53608 7.16073 6.81369 6.49236 6.19437 5.42062 9.98565 9.39357 8.85268 8.35765 7.90378 7.48690 7.10336 6.74987 6.42355 5.58315 10.56312 9.89864 9.29498 8.74547 8.24424 7.78615 7.36669 6.98187 6.62817 11.11839 10.37966 9.71225 5.72448 9.10791 8.55948 8.06069 7.19087 6.81086 5.84737 9.44665 8.85137 8.31256 9.76322 9.12164 8.54363 10.05909 9.37189 11% 12% 15% 90090 .89286 .86957 1.71252 1.69005 1.62571 2.44371 2.40183 2.28323 3.10245 3.03735 2.85498 7.60608 7.82371 7.37916 6.97399 5.95424 8.02155 7.54879 7.11963 6.04716 8.75563 8.2 0141 7.70162 11.15812 10.33560 9.60360 7.24967 6.12797 8.95012 8.36492 7.83929 7.36578 6.19823 11.46992 10.59401 9.81815 9.12855 8.51356 7.96333 7.46944 625933 (d1) Assume that during the first 5 years, the annual net cash flows each year were only $44,200. At the end of the fifth year, the company is running low on cash, so management decides to sell the property for $1,471,860. What was the actual internal rate of return on the project? (Round answer to O decimal places, e.g. 13%. For calculation purposes, use 5 decimal places as displayed in the factor table provided.) Actual internal rate of return % Crane Corp. is thinking about opening a soccer camp in southern California. To start the camp, Crane would need to purchase land and build four soccer fields and a sleeping and dining facility to house 150 soccer players. Each year, the camp would be run for 8 sessions of 1 week each. The company would hire college soccer players as coaches. The camp attendees would be male and female soccer players ages 12-18. Property values in southern California have enjoyed a steady increase in value. It is expected that after using the facility for 20 years, Crane can sell the property for more than it was originally purchased for. The following amounts have been estimated. Cost of land. Cost to build soccer fields, dorm, and dining facility $331,500 $663,000 Annual cash inflows assuming 150 players and 8 weeks $1,016,600 Annual cash outflows Estimated useful life Salvage value Discount rate $928,200 20 years $1,657,500 8% TABLE 1 Future Value of 1 (n) Periods 4% 5% 6% 7% 0 1.00000 1.00000 1.00000 J 1.04000 1.05000 1.06000 2 1.08160 1.10250 1.12360 3 1.12486 1.15763 1.19102 1.22504 8% 1.00000 1.00000 1.07000 1.08000 1.14490 1.16640 1.25971 9% 10% 11% 12% 15% 4 1.16986 1.21551 5 1.21665 1.27628 6 1.26532 7 1.31593 8 1.36857 1.47746 1.59385 9 1.423311 1.55133 1.68948 10 1.48024 1.62889 1.79085 11 1.53945 1.71034 12 1345 1.60103 1.79586 15 16 1.00000 1.00000 1.09000 1.10000 1.18810 1.21000 1.29503 1.26248 1.31080 1.36049 1.41158 1.33823 1.40255 1.46933 1.53862 1.61051 1.34010 1.41852 1.50073 1.58687 1.67710 1.77156 1.87041 1.40710 1.50363 1.71382 1.60578 1.82804 1.94872 2.07616 1.85093 1.71819 1.99256 2.14359 2.30454 1.83846 1.99900 2.17189 2.35795 2.55803 2.77308 1.96715 2.15892 2.36736 2.59374 2.83942 3.10585 1.89830 2.10485 2.33164 2.58043 2.85312 3.15176 3.47855 2.01220 2.25219 2.51817 2.81267 3.13843 3.49845 3.89598 5.35025 1.66507 1.88565 2.13293 2.40985 2.71962 3.06581 3.45227 3.88328 4.36349 6.15279 1.73168 1.97993 2.26090 2.57853 2.93719 3.34173 3.79750 4.31044 4.88711 7.07571 1.80094 2.07893 2.39656 2.75903 3.17217 3.64248 4.17725 4.78459 5.47357 1.87298 2.18287 2.54035 2.95216 3.42594 1.00000 1.00000 1.00000 1.11000 1.12000 1.15000 1.23210 1.25440 1.32250 1.33100 1.36763 1.40493 1.52088 1.46410 1.51807 1.57352 1.74901 1.68506 1.76234 2.01136 1.97382 2.31306 2.21068 2.66002 2.47596 3.05902 3.51788 4.04556 4.65239 8.13706. 3.97031 4.59497 17 18 19 20 1.94790 2.29202 2.02582 2.40662 2.85434 3.37993 3.99602 2.10685 2.52695 3.02560 3.61653 4.31570 2.19112 2.65330 3.20714 3.86968 4.66096 2.69277 3.15882 3.70002 4.32763 5.05447 4.71712 5.55992 5.31089 6.13039 5.89509 6.86604 10.76126 6.54355 7.68997 12.37545 9.35762 5.14166 5.60441 6.11591 7.26334 8.61276 14.23177 6.72750 8.06231 9.64629 16.36654 TABLE 2 Future Value of an Annuity of 1 (n) Payments 4% 5% 6% 7% 8% 9% 10% 11% 12% 15% 1 2 3 4 2.08000 3.24640 4.50611 5 5.86660 6 7 7.33592 8.92280 8 9 10 11 12 13 14 15 16 17 18 19 20 6.63298 6.80191 6.97532 7.1533 7.89829 8.14201 8.39384 8.6540 9.21423 9.54911 9.89747 10.2598 10.63663 11.02847 11.43589 11.85943 12.29969 13.72682 10.58280 11.02656 11.49132 11.9780 12.48756 13.02104 13.57948 14.16397 14.77566 16.78584 12.00611 12.57789 13.18079 13.8164 14.48656 15.19293 15.93743 16.72201 17.54874 20.30372 13.48635 14.20679 14.97164 15.7836 16.64549 17.56029 18.53117 19.56143 20.65458 24.34928 15.02581 15.91713 16.86994 17.8885 18.97713 20.14072 21.38428 22.71319 24.13313 29.00167 16.62684 17.71298 18.88214 20.1406 21.49530 22.95339 24.52271 26.21164 28.02911 34.35192. 18.29191 19.59863 21.01507 22.5505 24.21492 26.01919 27.97498 30.09492 32.39260 40.50471 20.02359 21.57856 23.27597 25.1290 27.15211 29.36092 31.77248 34.40536 37.27972 47.58041 21.82453 23.65749 25.67253 27.8881 30.32428 33.00340 35.94973 39.18995 42.75328 55.71747 23.69751 25.84037 28.21288 30.8402 33.75023 36.97351 40.54470 44.50084 48.88367 65.07509 25.64541 28.13238 30.90565 33.9990 37.45024 41.30134 45.59917 50.39593 55.74972 75.83636 27.67123 30.53900 33.75999 37.3790 41.44626 46.01846 51.15909 56.93949 63.43968 88.21181. 29.77808 33.06595 36.78559 40.9955 45.76196 51.16012 57.27500 64.20283 72.05244 102.44358 1.00000 1.00000 1.00000 1.0000 1.00000 1.00000 1.00000 1.00000 1.00000 1.00000 2.04000 2.05000 2.06000 2.0700 2.09000 2.10000 2.11000 2.12000 2.15000 3.12160 3.15250 3.18360 3.2149 3.27810 3.31000 3.34210 3.37440 3.47250 4.24646 4.31013 4.37462 4.4399 4.57313 4.64100 4.70973 4.77933 4.99338 5.41632 5.52563 5.63709 5.7507 5.98471 6.10510 6.22780 6.35285 6.74238 7.52334 7.71561 7.91286 8.11519. 8.75374 9.20044 9.48717 9.78327 10.08901 11.06680 (14) Present lue of I Periods 4% 5% 6% 7% 8% 9% 10% 11% 12% 15% 12 96154 95238 94340 0.93458 .92593 91743 .90909 .90090 .89286 .86957 2 92456 .90703 89000. 0.87344 .85734 .84168 .82645 .81162 .79719 .75614 3 88900 .86384 .83962 0.81630 .79383 .77218 .75132 .73119 .71178 .65752 4 85480 .82270 .79209 0.76290 .73503 .70843 .68301 .65873 .63552 .57175 5 .82193 .78353 .74726 0.71299 .68058 .64993 .62092 .59345 .56743 49718 819 .79031 .74622 .70496 0.66634 .63017 .59627 .56447 .53464 50663 43233 .75992 .71068 .66506 0.62275 .58349 .54703 .51316 48166 45235 .37594 .73069 .67684 .62741 0.58201 54027 50187 .46651 .43393 .40388 .32690 9 .70259 .64461 59190 0.54393 .50025 46043 .42410 .39092 .36061 28426 10 .67556 .61391 55839 0.50835 .46319 .42241 .38554 .35218 .32197 24719 11 .64958 58468 52679 0.47509 .42888 38753 .35049 .31728 .28748 21494 12 .62460 55684 49697 0.44401 .39711 .35554 .31863 28584. 25668 .18691 13 .60057 53032 46884 0.41496 36770 .32618 .28966 .25751 22917 .16253 14 57748 .50507 44230 0.38782 34046 29925 26333 .23199 20462 .14133 15 55526 48102 41727 0.36245 .31524 27454 23939 20900. .18270 .12289 16 53391 45811 39365 0.33873 .29189 25187 21763 .188291 .16312 .10687 17 51337 43630 37136 0.31657 .27027 23107 .19785 .16963 .14564 .09293 18 49363 .41552 35034 0.29586 25025 21199 .17986 .15282 .13004 .08081 19 47464 39573 33051 0.27615 23171 19449 20 45639 37689. 31180 0.25842 21455 .17843 .16351 .14864 .13768. .11611 .07027 .12403 .10367 .06110 TABLE 4 Present Value of an Annuity of 1 (n) Payments 4% 5% 6% 7% 1 96154 .95238 2 1.88609 1.85941 3 2.77509 4 3.62990 5 4.45182 6 7 8 9 10 11 8.76048 8.30641 94340 0.93458 1.83339 1.80802 2.72325 2.67301 2.62432 3.54595 3.46511 3.38721 4.32948 4.21236 4.10020 5.24214 5.07569 4.91732 4.76654 6.00205 5.78637 5.58238 5.38929 6.73274 6.46321 6.20979 5.97130 7.43533 7.10782 6.80169 6.51523 8.11090 7.72173 7.36009 7.02358 7.88687 7.49867 12 9.38507 8.86325 8.38384 7.94269 13 14 15 16 17 18 19 20 11.65230 10.83777 10.10590 12.16567 11.27407 10.47726 12.65930 11.68959 10.82760 13.13394 12.08532 13.59033 12.46221 8% 9% 10% .92593 91743 .90909 1.78326 1.75911 1.73554 2.57710 2.53130 2.48685 3.31213 3.23972 3.16986 3.99271 3.88965 3.79079 3.69590 3.60478 3.35216 4.62288 4.48592 4.35526 4.23054 4.11141 3.78448 5.20637 5.03295 4.86842 4.71220 4.56376 4.16042 5.74664 5.53482 5.33493 5.14612 4.96764 4.48732 6.24689 5.99525 5.75902 5.53705 5.32825 4.77158 6.71008 6.41766 6.14457 5.88923 5.65022 5.01877 7.13896 6.80519 6.49506 6.20652 5.93770 5.23371 7.53608 7.16073 6.81369 6.49236 6.19437 5.42062 9.98565 9.39357 8.85268 8.35765 7.90378 7.48690 7.10336 6.74987 6.42355 5.58315 10.56312 9.89864 9.29498 8.74547 8.24424 7.78615 7.36669 6.98187 6.62817 11.11839 10.37966 9.71225 5.72448 9.10791 8.55948 8.06069 7.19087 6.81086 5.84737 9.44665 8.85137 8.31256 9.76322 9.12164 8.54363 10.05909 9.37189 11% 12% 15% 90090 .89286 .86957 1.71252 1.69005 1.62571 2.44371 2.40183 2.28323 3.10245 3.03735 2.85498 7.60608 7.82371 7.37916 6.97399 5.95424 8.02155 7.54879 7.11963 6.04716 8.75563 8.2 0141 7.70162 11.15812 10.33560 9.60360 7.24967 6.12797 8.95012 8.36492 7.83929 7.36578 6.19823 11.46992 10.59401 9.81815 9.12855 8.51356 7.96333 7.46944 625933 (d1) Assume that during the first 5 years, the annual net cash flows each year were only $44,200. At the end of the fifth year, the company is running low on cash, so management decides to sell the property for $1,471,860. What was the actual internal rate of return on the project? (Round answer to O decimal places, e.g. 13%. For calculation purposes, use 5 decimal places as displayed in the factor table provided.) Actual internal rate of return %
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To analyze the feasibility of opening the soccer camp we can calculate the Net Present Value NPV of ... View the full answer
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Managerial Accounting Tools For Business Decision Making
ISBN: 9781119754053
9th Edition
Authors: Jerry J Weygandt, Paul D Kimmel, Jill E Mitchell
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The entrepreneurial attitude of the firm prompts it to think out of the box. How? What? Carry trade pops up. After some research, Nanotronics assembles the following data with the aim of executing a...
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Revol Industries manufactures plastic bottles for the food industry. On average, Revol pays $76 per ton for its plastics. Revol's waste-disposal company has increased its waste-disposal charge to $57...
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1. What criteria does a state or local government apply to determine whether to capitalize a lease?
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2. On January 1, 2008, a city signs a capital lease for new equipment for the police department. How does it report this transaction on the government-wide financial statements? On the fund-based...
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3. On December 31, 2008, the city in question 2 makes its first annual lease payment. How does it report the payment on the government-wide financial statements? On the fund-based financial...
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