Great Northern Mining Company is planning to purchase of a $500,000 excavator. The excavator is expected to
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Question:
Great Northern Mining Company is planning to purchase of a $500,000 excavator. The excavator is expected to produce cash flows of $298,500, $209,000, and $96,000 over the next three years. The rate of return on the excavator is:
12.60%
12.20%
10.62%
11.89%
11.15%
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