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A recently hired chief executive officer wants to reduce future production costs to improve the company's earnings, thereby increasing the value of the company's stock.
A recently hired chief executive officer wants to reduce future production costs to improve the company's earnings, thereby increasing the value of the company's stock. The plan is to invest $90,000 now and $68,000 in each of the next 4.00 years to improve productivity. By how much must annual costs decrease in years 5.00 through 13.00 to recover the investment plus a return of 12.00% per year? (Round the final answer to three decimal places.) The annual cost decreases by \$ x
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