The Foundational 15 (Algo) [LO12-1, LO12-2, LO12-3, LO12-5, LO12-6] [The following information applies to the questions...
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The Foundational 15 (Algo) [LO12-1, LO12-2, LO12-3, LO12-5, LO12-6] [The following information applies to the questions displayed below.] Cardinal Company is considering a five-year project that would require a $2,750,000 investment in equipment with a useful life of five years and no salvage value. The company's discount rate is 18%. The project would provide net operating income in each of five years as follows: Sales Variable expenses Contribution margin Fixed expenses: Advertising, salaries, and other fixed out-of-pocket costs Depreciation $ 752,000 550,000 $ 2,849,000 1,122,000 1,727,000 Total fixed expenses Net operating income 1,302,000 $ 425,000 Click here to view Exhibit 12B-1 and Exhibit 12B-2, to determine the appropriate discount factor(s) using table. Foundational 12-14 (Algo) 14. Assume a postaudit showed that all estimates (including total sales) were exactly correct except for the variable expense ratio, which actually turned out to be 45%. What was the project's actual payback period? (Round your answer to 2 decimal places.) > Answer is complete but not entirely correct. Payback period 10.38 years EXHIBIT 12B-1 1 Present Value of $1; (1+r)" Periods 4% 5% 6% 7% 8% 1 0.962 0.952 0.943 0.935 0.926 2 0.925 0.907 0.890 0.873 0.857 0.842 3 0.889 0.864 0.840 0.816 0.794 0.772 4 0.855 0.823 0.792 0.763 0.735 0.708 0.683 5 0.822 0.784 0.747 0.713 0.681 0.650 0.621 6 0.790 0.746 0.705 0.666 0.630 0.596 0.564 7 0.760 0.711 0.665 0.623 0.583 0.547 0.513 8 0.731 0.677 0.627 0.582 0.540 0.502 0.467 9 0.703 0.645 0.592 0.544 0.500 0.460 0.424 10 0.676 0.614 11 0.650 0.585 0.527 12 0.625 0.557 0.497 0.558 0.508 0.463 0.429 0.397 0.475 0.444 13 0.601 0.530 0.469 0.415 0.368 14 0.577 0.505 0.442 0.388 0.340 0.299 15 16 17 18 19 0.475 0.396 0.331 0.277 0.232 20 21 0.439 0.359 0.294 0.242 22 0.422 0.342 23 0.406 0.326 24 25 0.295 0.233 0.184 0.456 0.377 0.312 0.258 0.215 0.178 0.199 0.164 0.278 0.226 0.184 0.150 0.262 0.211 0.170 0.138 0.390 0.310 0.247 0.197 0.158 0.126 0.375 0.555 0.481 0.417 0.362 0.315 0.275 0.239 0.534 0.458 0.394 0.339 0.292 0.252 0.218 0.513 0.436 0.371 0.317 0.270 0.231 0.198 0.494 0.416 0.350 0.296 0.250 0.180 0.164 0.138 0.149 0.124 0.135 0.112 0.123 0.101 0.212 0.194 0.112 0.091 0.074 0.102 0.082 0.066 0.053 0.146 0.116 0.092 0.074 0.059 0.047 26 0.361 0.281 0.220 0.172 0.135 0.106 0.084 27 28 29 30 40 0.208 0.142 0.097 0.067 0.347 0.268 0.207 0.161 0.125 0.098 0.076 0.333 0.255 0.196 0.150 0.116 0.090 0.069 0.321 0.243 0.185 0.141 0.107 0.082 0.063 0.308 0.231 0.174 0.131 0.099 0.075 0.057 0.046 0.032 0.022 9% 10% 11% 12% 13% 14% 15% 16% 17% 18% 19% 0.917 0.909 0.901 0.893 0.885 0.877 0.870 0.862 0.855 0.847 0.840 0.826 0.812 0.797 0.783 0.769 0.756 0.743 0.731 0.718 0.706 0.751 0.731 0.712 0.693 0.675 0.658 0.641 0.624 0.609 0.593 0.659 0.636 0.613 0.592 0.572 0.552 0.534 0.516 0.499 0.593 0.567 0.543 0.519 0.497 0.476 0.456 0.437 0.419 0.535 0.507 0.480 0.456 0.432 0.410 0.390 0.370 0.352 0.482 0.452 0.425 0.400 0.376 0.354 0.333 0.314 0.296 0.434 0.404 0.376 0.351 0.327 0.305 0.285 0.266 0.249 0.391 0.361 0.333 0.308 0.284 0.263 0.243 0.225 0.209 0.422 0.386 0.352 0.322 0.295 0.270 0.247 0.227 0.208 0.191 0.176 0.388 0.350 0.317 0.287 0.261 0.237 0.215 0.195 0.178 0.162 0.148 0.356 0.319 0.286 0.257 0.231 0.208 0.187 0.168 0.152 0.137 0.124 0.326 0.290 0.258 0.229 0.204 0.182 0.163 0.145 0.130 0.116 0.104 0.263 0.232 0.205 0.181 0.160 0.141 0.125 0.111 0.099 0.088 0.209 0.183 0.160 0.140 0.123 0.108 0.095 0.084 0.074 0.188 0.163 0.141 0.123 0.107 0.093 0.081 0.071 0.062 0.170 0.146 0.125 0.108 0.093 0.080 0.069 0.060 0.052 0.153 0.130 0.111 0.095 0.081 0.069 0.059 0.051 0.044 0.116 0.098 0.083 0.070 0.060 0.051 0.043 0.037 0.104 0.087 0.073 0.061 0.051 0.043 0.037 0.031 0.093 0.077 0.064 0.053 0.044 0.037 0.031 0.026 0.083 0.068 0.056 0.046 0.038 0.032 0.026 0.022 0.060 0.049 0.040 0.033 0.027 0.022 0.018 0.043 0.035 0.028 0.023 0.019 0.015 0.038 0.030 0.024 0.020 0.016 0.013 0.066 0.053 0.042 0.033 0.026 0.021 0.017 0.014 0.011 0.060 0.047 0.037 0.029 0.023 0.018 0.014 0.054 0.042 0.033 0.026 0.020 0.016 0.012 0.048 0.037 0.029 0.022 0.017 0.014 0.011 0.044 0.033 0.026 0.020 0.015 0.012 0.009 0.007 0.005 0.015 0.011 0.008 0.005 0.004 0.003 0.002 0.001 0.001 0.011 0.009 0.010 0.008 0.008 0.006 EXHIBIT 12B-2 Present Value of an Annuity of $1 in Arrears; 1/r(1-(1/(1+r)^n)) Periods 4% 5% 6% 1 2 0.962 0.952 1.886 1.859 7% 8% 0.943 0.935 0.926 1.833 1.808 1.783 3 2.775 2.723 2.673 2.624 2.577 4 3.630 3.546 3.465 3.387 3.312 3.240 9% 10% 0.917 0.909 1.759 1.736 2.531 2.487 3.170 5 4.452 4.329 4.212 4.100 3.993 3.890 3.791 6 5.242 5.076 4.917 4.767 4.623 4.486 4.355 7 6.002 5.786 5.582 5.389 5.206 5.033 8 9 7.435 6.733 6.463 7.108 5.535 10 8.111 11 12 9.385 8.863 8.384 13 9.986 9.394 8.853 8.358 14 10.563 9.899 9.295 8.745 15 11.118 10.380 9.712 9.108 16 11.652 10.838 10.106 9.447 8.851 8.313 7.824 17 12.166 11.274 10.477 9.763 9.122 8.544 8.022 7.549 18 12.659 11.690 10.828 10.059 9.372 8.756 8.201 7.702 19 13.134 12.085 11.158 10.336 9.604 8.950 8.365 7.839 20 13.590 12.462 11.470 10.594 9.818 9.129 8.514 7.963 21 14.029 12.821 11.764 10.836 10.017 9.292 8.649 8.075 22 14.451 13.163 12.042 11.061 10.201 9.442 8.772 8.176 23 14.857 13.489 12.303 11.272 10.371 9.580 8.883 8.266 24 15.247 13.799 12.550 11.469 10.529 9.707 8.985 25 15.622 14.094 12.783 11.654 10.675 9.823 9.077 26 15.983 14.375 13.003 11.826 10.810 9.929 9.161 8.488 27 16.330 14.643 13.211 11.987 10.935 10.027 9.237 8.548 28 29 30 16.663 14.898 13.406 12.137 11.051 10.116 9.307 16.984 15.141 13.591 12.278 11.158 10.198| 9.370 17.292 15.372 13.765 12.409 11.258 10.274 9.427 8.602 11% 12% 13% 14% 15% 16% 17% 18% 19% 20% 0.901 0.893 0.885 0.877 0.870 0.862 0.855 0.847 0.840 0.833 1.713 1.690 1.668 1.647 1.626 1.605 1.585 1.566 1.547 1.528 2.444 2.402 2.361 2.322 2.283 2.246 2.210 2.174 2.140 2.106 3.102 3.037 2.974 2.914 2.855 2.798 2.743 2.690 2.639 2.589 3.696 3.605 3.517 3.433 3.352 3.274 3.199 3.127 3.058 2.991 4.231 4.111 3.998 3.889 3.784 3.685 3.589 3.498 3.410 3.326 4.868 4.712 4.564 4.423 4.288 4.160 4.039 3.922 3.812 3.706 3.605 6.210 5.971 5.747 5.335 5.146 4.968 4.799 4.639 4.487 4.344 4.207 4.078 3.954 3.837 6.802 6.515 6.247 5.995 5.759 5.537 5.328 5.132 4.946 4.772 4.607 4.451 4.303 4.163 4.031 7.722 7.360 7.024 6.710 6.418 6.145 5.889 5.650 5.426 5.216 5.019 4.833 4.659 4.494 4.339 4.192 8.760 8.306 7.887 7.499 7.139 6.805 6.495 6.207 5.938 5.687 5.453 5.234 5.029 4.836 4.656 4.486 4.327 7.943 7.536 7.161 6.814 6.492 6.194 5.918 5.660 5.421 5.197 4.988 4.793 4.611 4.439 7.904 7.487 7.103 6.750 6.424 6.122 5.842 5.583 5.342 5.118 4.910 4.715 4.533 8.244 7.786 7.367 6.982 6.628 6.302 6.002 5.724 5.468 5.229 5.008 4.802 4.611 8.559 8.061 7.606 7.191 6.811 6.462 6.142 5.847 5.575 5.324 5.092 4.876 4.675 7.379 6.974 6.604 6.265 5.954 5.668 5.405 5.162 4.938 4.730 7.120 6.729 6.373 6.047 5.749 5.475 5.222 4.990 4.775 7.250 6.840 6.467 6.128 5.818 5.534 5.273 5.033 4.812 7.366 6.938 6.550 6.198 5.877 5.584 5.316 5.070 4.843 7.025 6.623 6.259 5.929 5.628 5.353 5.101 4.870 7.102 6.687 6.312 5.973 5.665 5.384 5.127 4.891 7.170 6.743 6.359 6.011 5.696 5.410 5.149 4.909 7.718 7.230 6.792 6.399 6.044 5.723 5.432 5.167 4.925 8.348 7.784 7.283 6.835 6.434 6.073 5.746 5.451 5.182 4.937 8.422 7.843 7.330 6.873 6.464 6.097 5.766 5.467 5.195 4.948 7.896 7.372 6.906 6.491 6.118 5.783 5.480 5.206 4.956 7.943 7.409 6.935 6.514 6.136 5.798 5.492 5.215 4.964 5.502 5.223 4.970 7.469 7.562 7.645 7.984 7.441 6.961 6.534 6.152 5.810 8.650 8.022 7.470 6.983 6.551 6.166 8.694 8.055 40 19.793 17.159 15.046 13.332 11.925 10.757 9.779 8.951 8.244 7.496 7.003 6.566 6.177 7.634 7.105 5.820 5.829 6.642 6.233 5.871 5.548 5.510 5.229 4.975 5.517 5.235 4.979 5.258 4.997 The Foundational 15 (Algo) [LO12-1, LO12-2, LO12-3, LO12-5, LO12-6] [The following information applies to the questions displayed below.] Cardinal Company is considering a five-year project that would require a $2,750,000 investment in equipment with a useful life of five years and no salvage value. The company's discount rate is 18%. The project would provide net operating income in each of five years as follows: Sales Variable expenses Contribution margin Fixed expenses: Advertising, salaries, and other fixed out-of-pocket costs Depreciation $ 752,000 550,000 $ 2,849,000 1,122,000 1,727,000 Total fixed expenses Net operating income 1,302,000 $ 425,000 Click here to view Exhibit 12B-1 and Exhibit 12B-2, to determine the appropriate discount factor(s) using table. Foundational 12-14 (Algo) 14. Assume a postaudit showed that all estimates (including total sales) were exactly correct except for the variable expense ratio, which actually turned out to be 45%. What was the project's actual payback period? (Round your answer to 2 decimal places.) > Answer is complete but not entirely correct. Payback period 10.38 years EXHIBIT 12B-1 1 Present Value of $1; (1+r)" Periods 4% 5% 6% 7% 8% 1 0.962 0.952 0.943 0.935 0.926 2 0.925 0.907 0.890 0.873 0.857 0.842 3 0.889 0.864 0.840 0.816 0.794 0.772 4 0.855 0.823 0.792 0.763 0.735 0.708 0.683 5 0.822 0.784 0.747 0.713 0.681 0.650 0.621 6 0.790 0.746 0.705 0.666 0.630 0.596 0.564 7 0.760 0.711 0.665 0.623 0.583 0.547 0.513 8 0.731 0.677 0.627 0.582 0.540 0.502 0.467 9 0.703 0.645 0.592 0.544 0.500 0.460 0.424 10 0.676 0.614 11 0.650 0.585 0.527 12 0.625 0.557 0.497 0.558 0.508 0.463 0.429 0.397 0.475 0.444 13 0.601 0.530 0.469 0.415 0.368 14 0.577 0.505 0.442 0.388 0.340 0.299 15 16 17 18 19 0.475 0.396 0.331 0.277 0.232 20 21 0.439 0.359 0.294 0.242 22 0.422 0.342 23 0.406 0.326 24 25 0.295 0.233 0.184 0.456 0.377 0.312 0.258 0.215 0.178 0.199 0.164 0.278 0.226 0.184 0.150 0.262 0.211 0.170 0.138 0.390 0.310 0.247 0.197 0.158 0.126 0.375 0.555 0.481 0.417 0.362 0.315 0.275 0.239 0.534 0.458 0.394 0.339 0.292 0.252 0.218 0.513 0.436 0.371 0.317 0.270 0.231 0.198 0.494 0.416 0.350 0.296 0.250 0.180 0.164 0.138 0.149 0.124 0.135 0.112 0.123 0.101 0.212 0.194 0.112 0.091 0.074 0.102 0.082 0.066 0.053 0.146 0.116 0.092 0.074 0.059 0.047 26 0.361 0.281 0.220 0.172 0.135 0.106 0.084 27 28 29 30 40 0.208 0.142 0.097 0.067 0.347 0.268 0.207 0.161 0.125 0.098 0.076 0.333 0.255 0.196 0.150 0.116 0.090 0.069 0.321 0.243 0.185 0.141 0.107 0.082 0.063 0.308 0.231 0.174 0.131 0.099 0.075 0.057 0.046 0.032 0.022 9% 10% 11% 12% 13% 14% 15% 16% 17% 18% 19% 0.917 0.909 0.901 0.893 0.885 0.877 0.870 0.862 0.855 0.847 0.840 0.826 0.812 0.797 0.783 0.769 0.756 0.743 0.731 0.718 0.706 0.751 0.731 0.712 0.693 0.675 0.658 0.641 0.624 0.609 0.593 0.659 0.636 0.613 0.592 0.572 0.552 0.534 0.516 0.499 0.593 0.567 0.543 0.519 0.497 0.476 0.456 0.437 0.419 0.535 0.507 0.480 0.456 0.432 0.410 0.390 0.370 0.352 0.482 0.452 0.425 0.400 0.376 0.354 0.333 0.314 0.296 0.434 0.404 0.376 0.351 0.327 0.305 0.285 0.266 0.249 0.391 0.361 0.333 0.308 0.284 0.263 0.243 0.225 0.209 0.422 0.386 0.352 0.322 0.295 0.270 0.247 0.227 0.208 0.191 0.176 0.388 0.350 0.317 0.287 0.261 0.237 0.215 0.195 0.178 0.162 0.148 0.356 0.319 0.286 0.257 0.231 0.208 0.187 0.168 0.152 0.137 0.124 0.326 0.290 0.258 0.229 0.204 0.182 0.163 0.145 0.130 0.116 0.104 0.263 0.232 0.205 0.181 0.160 0.141 0.125 0.111 0.099 0.088 0.209 0.183 0.160 0.140 0.123 0.108 0.095 0.084 0.074 0.188 0.163 0.141 0.123 0.107 0.093 0.081 0.071 0.062 0.170 0.146 0.125 0.108 0.093 0.080 0.069 0.060 0.052 0.153 0.130 0.111 0.095 0.081 0.069 0.059 0.051 0.044 0.116 0.098 0.083 0.070 0.060 0.051 0.043 0.037 0.104 0.087 0.073 0.061 0.051 0.043 0.037 0.031 0.093 0.077 0.064 0.053 0.044 0.037 0.031 0.026 0.083 0.068 0.056 0.046 0.038 0.032 0.026 0.022 0.060 0.049 0.040 0.033 0.027 0.022 0.018 0.043 0.035 0.028 0.023 0.019 0.015 0.038 0.030 0.024 0.020 0.016 0.013 0.066 0.053 0.042 0.033 0.026 0.021 0.017 0.014 0.011 0.060 0.047 0.037 0.029 0.023 0.018 0.014 0.054 0.042 0.033 0.026 0.020 0.016 0.012 0.048 0.037 0.029 0.022 0.017 0.014 0.011 0.044 0.033 0.026 0.020 0.015 0.012 0.009 0.007 0.005 0.015 0.011 0.008 0.005 0.004 0.003 0.002 0.001 0.001 0.011 0.009 0.010 0.008 0.008 0.006 EXHIBIT 12B-2 Present Value of an Annuity of $1 in Arrears; 1/r(1-(1/(1+r)^n)) Periods 4% 5% 6% 1 2 0.962 0.952 1.886 1.859 7% 8% 0.943 0.935 0.926 1.833 1.808 1.783 3 2.775 2.723 2.673 2.624 2.577 4 3.630 3.546 3.465 3.387 3.312 3.240 9% 10% 0.917 0.909 1.759 1.736 2.531 2.487 3.170 5 4.452 4.329 4.212 4.100 3.993 3.890 3.791 6 5.242 5.076 4.917 4.767 4.623 4.486 4.355 7 6.002 5.786 5.582 5.389 5.206 5.033 8 9 7.435 6.733 6.463 7.108 5.535 10 8.111 11 12 9.385 8.863 8.384 13 9.986 9.394 8.853 8.358 14 10.563 9.899 9.295 8.745 15 11.118 10.380 9.712 9.108 16 11.652 10.838 10.106 9.447 8.851 8.313 7.824 17 12.166 11.274 10.477 9.763 9.122 8.544 8.022 7.549 18 12.659 11.690 10.828 10.059 9.372 8.756 8.201 7.702 19 13.134 12.085 11.158 10.336 9.604 8.950 8.365 7.839 20 13.590 12.462 11.470 10.594 9.818 9.129 8.514 7.963 21 14.029 12.821 11.764 10.836 10.017 9.292 8.649 8.075 22 14.451 13.163 12.042 11.061 10.201 9.442 8.772 8.176 23 14.857 13.489 12.303 11.272 10.371 9.580 8.883 8.266 24 15.247 13.799 12.550 11.469 10.529 9.707 8.985 25 15.622 14.094 12.783 11.654 10.675 9.823 9.077 26 15.983 14.375 13.003 11.826 10.810 9.929 9.161 8.488 27 16.330 14.643 13.211 11.987 10.935 10.027 9.237 8.548 28 29 30 16.663 14.898 13.406 12.137 11.051 10.116 9.307 16.984 15.141 13.591 12.278 11.158 10.198| 9.370 17.292 15.372 13.765 12.409 11.258 10.274 9.427 8.602 11% 12% 13% 14% 15% 16% 17% 18% 19% 20% 0.901 0.893 0.885 0.877 0.870 0.862 0.855 0.847 0.840 0.833 1.713 1.690 1.668 1.647 1.626 1.605 1.585 1.566 1.547 1.528 2.444 2.402 2.361 2.322 2.283 2.246 2.210 2.174 2.140 2.106 3.102 3.037 2.974 2.914 2.855 2.798 2.743 2.690 2.639 2.589 3.696 3.605 3.517 3.433 3.352 3.274 3.199 3.127 3.058 2.991 4.231 4.111 3.998 3.889 3.784 3.685 3.589 3.498 3.410 3.326 4.868 4.712 4.564 4.423 4.288 4.160 4.039 3.922 3.812 3.706 3.605 6.210 5.971 5.747 5.335 5.146 4.968 4.799 4.639 4.487 4.344 4.207 4.078 3.954 3.837 6.802 6.515 6.247 5.995 5.759 5.537 5.328 5.132 4.946 4.772 4.607 4.451 4.303 4.163 4.031 7.722 7.360 7.024 6.710 6.418 6.145 5.889 5.650 5.426 5.216 5.019 4.833 4.659 4.494 4.339 4.192 8.760 8.306 7.887 7.499 7.139 6.805 6.495 6.207 5.938 5.687 5.453 5.234 5.029 4.836 4.656 4.486 4.327 7.943 7.536 7.161 6.814 6.492 6.194 5.918 5.660 5.421 5.197 4.988 4.793 4.611 4.439 7.904 7.487 7.103 6.750 6.424 6.122 5.842 5.583 5.342 5.118 4.910 4.715 4.533 8.244 7.786 7.367 6.982 6.628 6.302 6.002 5.724 5.468 5.229 5.008 4.802 4.611 8.559 8.061 7.606 7.191 6.811 6.462 6.142 5.847 5.575 5.324 5.092 4.876 4.675 7.379 6.974 6.604 6.265 5.954 5.668 5.405 5.162 4.938 4.730 7.120 6.729 6.373 6.047 5.749 5.475 5.222 4.990 4.775 7.250 6.840 6.467 6.128 5.818 5.534 5.273 5.033 4.812 7.366 6.938 6.550 6.198 5.877 5.584 5.316 5.070 4.843 7.025 6.623 6.259 5.929 5.628 5.353 5.101 4.870 7.102 6.687 6.312 5.973 5.665 5.384 5.127 4.891 7.170 6.743 6.359 6.011 5.696 5.410 5.149 4.909 7.718 7.230 6.792 6.399 6.044 5.723 5.432 5.167 4.925 8.348 7.784 7.283 6.835 6.434 6.073 5.746 5.451 5.182 4.937 8.422 7.843 7.330 6.873 6.464 6.097 5.766 5.467 5.195 4.948 7.896 7.372 6.906 6.491 6.118 5.783 5.480 5.206 4.956 7.943 7.409 6.935 6.514 6.136 5.798 5.492 5.215 4.964 5.502 5.223 4.970 7.469 7.562 7.645 7.984 7.441 6.961 6.534 6.152 5.810 8.650 8.022 7.470 6.983 6.551 6.166 8.694 8.055 40 19.793 17.159 15.046 13.332 11.925 10.757 9.779 8.951 8.244 7.496 7.003 6.566 6.177 7.634 7.105 5.820 5.829 6.642 6.233 5.871 5.548 5.510 5.229 4.975 5.517 5.235 4.979 5.258 4.997
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