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5) A company is considering a new product which is anticipated to produce sales of $400,000 per year for 20 years after its introduction according
5) A company is considering a new product which is anticipated to produce sales of $400,000 per year for 20 years after its introduction according to a market analysis. The development time for the product is expected to take 3 years. How much can management spend each year on development if they expect a 15% return on money invested in such projects? ($720,910)
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