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A delivery company recently bought a new van. The van cost $ 2 2 , 5 0 0 and is expected to generate net after

A delivery company recently bought a new van. The van cost $22,500 and is expected to generate
net after-tax operating cash flows of $6,250 per year for the next 5 years. The van's expected salvage
values after tax adjustments are given below. If managers want to maximize shareholder value and
the company has a 10% cost of capital, when should they sell the van? (Enter an integer between 0
and 5 that represents the year in which they should sell.)
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