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A new product requires an initial investment of $140,000, and an annual operating expelise of $32.000. This product is estimated to generate $47,000 revenue in
A new product requires an initial investment of $140,000, and an annual operating expelise of $32.000. This product is estimated to generate $47,000 revenue in the first year, and the revenue is expected to increase by $7,000 each year thereafter for 11 years. Determine whether this new product is a good investment using the ERR method. Assume MARR is 4% per year
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