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A business owner is interested in expanding to a new storefront. The new property for the new store is priced at $500 thousand dollars.
A business owner is interested in expanding to a new storefront. The new property for the new store is priced at $500 thousand dollars. The property is expected to last 30 years without major repairs and earn the owner an additional income of 27100 dollars per year. If money can earn interest at 5% what is the present value of the new property's income stream? Round to the nearest cent. dollars
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Principles Of Managerial Finance
Authors: Lawrence J. Gitman, Chad J. Zutter
13th Edition
9780132738729, 136119468, 132738724, 978-0136119463
