Question: Miner's Mexican Grill Inc. plans to open its 100th restaurant by the end of next year. The new restaurant will require an initial investment

Miner's Mexican Grill Inc. plans to open its 100th restaurant by the

Miner's Mexican Grill Inc. plans to open its 100th restaurant by the end of next year. The new restaurant will require an initial investment of $300,000 and an annual operating cost of $31,000. It will have a $62,000 salvage value after 6 years. The company also estimates that the new restaurant will bring in revenue of $43,400 each year. Calculate the annual worth of the investment if the company's minimum attractive rate of retum is 12% per year.

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