A salt mine you inherited will pay you $55,000 per year for 25 years, with the first

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A salt mine you inherited will pay you $55,000 per year for 25 years, with the first payment being made today. If you think a fair return on the mine is 7.5%, how much should you ask for it if you decide to sell it?

a. $659,063.17

b. $658,818.67

c. $658,900.17

d. $658,981.67

e. $658,737.17

Related Book For answer-question

Macroeconomics Theories and Policies

ISBN: 978-0132831529

10th edition

Authors: Richard T. Froyen

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Posted Date: Nov 10, 2022 07:38 AM

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A salt mine you inherited will pay you $55,000 per year for 25 years, with the first

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Macroeconomics Theories and Policies

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