35. The infl ation rates for 4 years are forecast to be 3%, 3%, 4%, and 5%....

Question:

35. The infl ation rates for 4 years are forecast to be 3%, 3%, 4%, and 5%. The interest rate exclusive of infl ation is anticipated to be 6%, 5%, 4%, and 5%

over this same period. If labor is projected to be $1,000, $15,000, $2,000, and $1,000 in then-current dollars, during those years, determine the present worth equivalent for labor cost.

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