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10. A start-up direct marketer of car parts expects to spend $1 million the first year for advertising, with amounts decreasing by $100,000 each year.

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10. A start-up direct marketer of car parts expects to spend $1 million the first year for advertising, with amounts decreasing by $100,000 each year. Income is expected to be $4 million the first year, increasing by $500,000 each year. Determine the equivalent annual worth in years 1 through 5 of the company's net cash flow at an interest rate of 16% per year

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