A famous high-volume calculus text generates royalties beginning with $60,000 in the first year and declining each

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A famous high-volume calculus text generates royalties beginning with $60,000 in the first year and declining each year by 40 percent of the previous year due to used sales and competition. The author is on a 4-year cycle of revision. Determine the present worth of one complete cycle of royalties if the author’s time value of money is 7 percent.

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Principles Of Engineering Economic Analysis

ISBN: 9781118163832

6th Edition

Authors: John A. White, Kenneth E. Case, David B. Pratt

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