17. 2.93 Sierra Electric Company is considering the purchase of a hillside ranch for possible use as
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17. 2.93 Sierra Electric Company is considering the purchase of a hillside ranch for possible use as a wind energy farm sometime in the future. The owner of the 500-
acre ranch will sell for $3000 per acre if the company will pay her in two payments—one payment now and another that is twice as large three years from now. If the transaction interest rate is 8% per year, what is the amount of the first payment?
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Related Book For 
Basics Of Engineering Economy
ISBN: 9781259683312
3rd Edition
Authors: Leland T. Blank, Anthony Tarquin
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