Moving to another question will save this response Question 6 Q.1. You are considering developing an 18- hole championship golf course that requires an investment of $25,000,000. This investment cost includes the course development, club house, and golf carts. Once constructed, you expect the maintenance cost for the golf course to be $500,000 in the first year, $500,000 in the second year, $550,000 in the third year and continue to increase by $50,000 in subsequent years. The net revenue generated from selling food and beverage will be about 10% of greens fees paid by the players. The cart fee per player is $20, and 50,000 rounds of golf are expected per year. You will own and operate the course complex for 15 years and expect to sell it for $35,000,000. What is the capital recovery cost that will provide a return on investment of 15%? Moving to another question will save this response Question 6 Q.1. You are considering developing an 18- hole championship golf course that requires an investment of $25,000,000. This investment cost includes the course development, club house, and golf carts. Once constructed, you expect the maintenance cost for the golf course to be $500,000 in the first year, $500,000 in the second year, $550,000 in the third year and continue to increase by $50,000 in subsequent years. The net revenue generated from selling food and beverage will be about 10% of greens fees paid by the players. The cart fee per player is $20, and 50,000 rounds of golf are expected per year. You will own and operate the course complex for 15 years and expect to sell it for $35,000,000. What is the capital recovery cost that will provide a return on investment of 15%