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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
A recently hired chief executive officer wants to reduce future production costs to improve the companys earnings, thereby increasing the value of the companys stock. The plan is to invest $ now and $ in each of the next years to improve productivity. By how much must annual costs decrease in years through to recover the investment plus a return of per year? Round the final answer to three decimal places.
The annual cost decreases by $
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