Uncertain Future Life
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Worldwide travel service has made an investment in certain equipment that cost the company $307,100. The equipment is expected to generate cash inflows of $50,000 each year.
How many years will the equipment have to be used in order to provide the company with a 14% return on its investment?
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Solution Summary
The solution explains how to calculate the number of years the equipment should be used to give the desired return.
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We need to find the time period so that the PV of cash inflows is equal to the initial investment. The cash ...
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