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A mine is purchased for $1,000,000 and it is anticipated that it will be exhausted at the end of 20 years. If the sinking- fund
A mine is purchased for $1,000,000 and it is anticipated that it will be exhausted at the end of 20 years. If the sinking- fund rate is 4%, what must be the annual return from the mine to realized a return of 7% on the investment
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