Assume that a company is considering a $2,400,000 capital investment in a project that would earn net income for each of the next five years as follows: $1,900,000 800,000 1,100,000 Sales Variable expenses Contribation margin Fixed expenses ! Out-of-pocket operating costs Depreciation Net operating income $300,000 400,000 700,000 400,000 $ Click here to view Exhibit 148.1 and Exhibit 14B-2. to determine the appropriate discount factor(s) using the tables provided. If the company's discount rate is 12%, then the project's net present value is closest to: ces EXHIBIT 140-1 Precent Value of State 2 3 007 Periods 4% 5% 7 8% 9 10% 113 103 10% 173 189 19 204 21 22% 23% 255 1 0.962 0.952 0943 0.935 0.926 0917 0.909 0.901 0.893 0.885 0.877 0.870 0862 0.855 0347 0.840 0.833 0.826 0.820 0.813 0.806 0.800 0.925 0.907 0.890 0.073 0.857 0.842 0.826 0.812 0.797 0783 0769 07560743 0731 0.718 0.706 0694 0.683 0.672 0.661 0.650 0640 0.8090.364 0.840 0.816 0.794 0772 0.751 0731 0.712 0.693 0.675 0658 0.64 0.624 0609 0.593 0.579 0.564 0.551 0.537 0.524 0.512 4 0.855 0.823 0.792 0.763 07350.708 0.683 0.659 0.636 0.613 0.592 0.572 0.552 0.534 0.516 0.499 0.482 0.467 0.451 0.437 0423 0.450 5 0.822 0.784 0.747 0.713 0681 0.650 0.621 0.593 0.567 0543 05190.497 0.476 0.456 0.437 0.419 0.402 0.386 0.370 0.355.0.341 0.328 6 0.790 0.746 0705 0.666 0.6300596 0.564 0.535 0.507 0480 0456 0432 0.41 0.390 0.370 0.352 0.335 0.3190303 0.289 0275 0.262 7 0.760 0711 0.665 0623 0.583 0.547 0.53 0.482 0.452 0.425 0.400 0.376 0,354 0.333 0.31 0.296 0.279 0.263 0249 0.2350222 0210 8 0.731 0.677 0.627 0582 0540 0.502 0.467 0.434 0.404 0.376 0351 0.327 0.305 0.25 0.206 0.249 0.23 0.21802040191 0179 016 9 070306450.592 0.544 0.500 0.460 0.424 0.391 0.361 0.333 0.308 0204 0.200 0.24 0.225 0.209 0.194 0130 067 0155 0144 0134 10 0.676 0614 0.558 0.508 0463 0.422 0.36 0.352 0.322 0295 0270 0.20 0.227 0.208 0.191 016 0.12 0.549 0126 0155 0107 11 0.650 0.585 0527 0.475 0.429 0.388 0.350 0.317 0.287 0.2010 237 0.2150195 0170 ON 0180135 0123 0112 0103 00940005 0.625 0.557 0.49704440397 0.356 0.19 0.206 0.257 021 02000187 0168 0152 0737 0124 0112 0.002 0.092 0083 007 0069 0.001 0.530 0.400 0.41 0.368 0.326 0.290 0258 0229 0204 0182 0163 05 000 0.116 010400900004 0.0750068 00010055 0.577 0.505 0.4620300030 0.299 0.263 0232 0205 0181 0.0001 0.125 0.111 0.09 0.088 0078 0000 0062005500490044 0.555 0.4810417 0.32 0.315 0.2750239 0.209 0183 0100014001230108 0005 0.014 0.01 0.005 0.0570051004500400035 15 0534 0.456 0.3940309 0.292 0.252 02100138 0163 011 01230107 0.093 000 0.07 0.002 0.054 0.047 0042003600320028 05030435 0.37 0.31 02200231 0198 010 OS 01250100 0000 0000 0000 0000 0052 0045 0.0300034 0000 0026 0023 18 0.4940456 0.350 0295 0250 0212 0180 0153 010 0.111 0.095 0001 0.000 0.0500051 00140.0000032002800240021 0010 19 0.475 0.396 0331 0.277 0232 0194 0164 0138 0116 000000000000000 0.0510013 0.007 0.031 0.027 0023 0.020 000 0014 20 0.456 0377 0.312 0.258 0215 0170 019 0124 010400870073 0.001 0.051 0.013 0097 0.001 0.026 0.0220019 0,015 0.014 000 21 0.439 0.359 0.294 02420199 0164 035 0112 000 0.077 0064 0.05) 0044 0.037 0.001 0.026 0.0220010 0015 0.013 0011 0 000 22 0.422 0342 0.270 0.226 0184 015001230101 0.003 0.068 0.056 0.046 0.038 0.002 0026 0.022 0.018 0015 000 0011 00000007 22 0.400 0.3260262 0211 010 0038 0112 0.0910074 0.000 0.000 0.00 0.033 0.027 0.022 0.01 0.0150012 0.000 0.000 0.007 0.006 24 0.300.310 0.247 0197 01580126010200820006 0.053 0.00 0.035 0.0250023 0.019 0015 0.00 0.00 0.008 0.00700060005 25 0.375 0.295 0.233 0184 01460116 0.002 0.00.0590017003000300024 0.020 0.0160.00 0.00 0.009 0.007 0.008 0.005 0.004 26 0.361 0.21 0.220 0.172 015 0.06 0.034 0.06 0.053 0012 0.03 0.026 0.021 0.00 0.01 0.01 0.0090.007 0.006 0.005 0.0040003 27 0.347 0.268 0207 0161 0125 0.00 0.025 0.060 000 0.037 0.0290023 0.01 0.054 0.01 0.0090.007 0.006 0.005 0.00400030002 20 0333 0255 0196 0150 0196 0090 0.00 0.054 0.042 0.033 0.026 0.020 0,0% 0,012 0.000 0.0000006 0.005 0.0040.00000020002 29 0.321 0243 0105 0141 0107 0082 0.063 0048 0.037 0.025 0.022 0.00 0.014 0.01 0.0000006 0.0050004 0.000 0.002 0.0020002 30 03080231 0174 0131 0.0990075 0.057 0.04 0.003 0.026 0.020 0.05 0.002 0.00900700050004 0.003 0.003 0.002 0.002 0.001 40 02080142 0.097 0.067 0.00 0.002 0.022 0.015 0.01 0.008 0.005 0.004 0.003 0.002 0.001 0.001 0.001 0.000 0.000 0.000 0.000 0.000 DOHIBIT 40-2 Pocent Value of an eonuity of St In Arrows[-] 25 2531 5796 7360 7487 Periods 49 5% 6% 8 9 11% 124 13% 54 15 10% 17 19 1991 20% 2995 22% 23% 0.962 0.952 0.93 09350 926 0907 0.909 0.901 0.893 0.885 0.877 0.870 0362 0.955 0.847 0.840 0.833 0.826 0.820 0.813 0.8050.800 2 1805. 1950 130 1305 1782 1759 1736 1713 1690 1668 1647 1626 1605 1585 1566 1547 1528 1509 1.492 1474 1457 1400 2 2775 2728 2673 2624 2577 2.487 2444 2.402 2361 2322 2283 2246 2210 2174 2140 2106 2074 2042 2011 1901 1952 4 3600 3548 3.465 3.387 3.32 3.240 3.170 3:102 3037 2.9742914 2555 2798 2743 2690 2.639 2589 2540 2494 2.448 2.404 2.362 5 4452 4.329 4212 4100 3.933 3.890 3.791 3.696 3.605 3.517 3.433 3.352 3274 3199 3127 3.058 2.991 2.926 2564 2.303 2745 2689 6 5242 5.076 4917 4769 4623 4.456 4355 4231 41 3.998 3.099 3784 36853.589 3.498 3.410 3.326 3.245 3.167 3.092 3020 2.951 7 6.002 5582 5.389 5.205 5033 408 4712 4564 4423 4288 41604099 3922 3.812 37063605 3.508 3.43.327 32423161 8 6733 6.463 6.210 5.971 5595 5.305 51054968429946394437 43444207 40733.954 3.837 3726 3.619 3.518 3421 3329 9 7415 7100 6,802 6.515 6.247 5.995 5750 5.537 5.328 5.02 4946 477246074451 430341634031 905 3736 3673 3.566 3.463 10 81 7722 7024 6710 6.418 6.145 5.889 5650 5.426 5216 5019 4833 4659 4494 4.399 4192 4054 3.923 3799 3682 3571 11 8.750 8.300 7837 7.499 700 6.305 6.495 6.207 5.938 5.587 5.453 5234 5.029 48364656 4.406 4.327 4.177 4.035 3.902 3.776 3656 9305 8.36 834 7903 7536 7:41 6.814 6.492 6194 5918 5.660 5.421 5197 4900 4793 611 4.419 4278 4127 3.985 3851 3725 9.906 9.394 3.853 8.358 7904 2100 6750 6.424 6122 5542 5.500 5.342 5.118 4910 471 4.533 4.352 4.203 4.053 3.912 3780 4 10.563 9.899 9.295 8.745 8.244 275 7357 6.982 6.628 6.302 6.002 57245468 5.2295.008 4.302 4.671 4432 4.265 41083.962 3824 10 10.30 9.72 9308 8.550 8.001 7606 7191 6011 6.6626142 5.347 5575 5.324 5.092 4878 4.675 4499 4.315 49 4.001 3.859 10 11652 10.838 10.306 9.47 8.851 8.33 78247379 6974 6604 6265 5954 5.668 5.405 5162 4.938 4730 4.536 4357 4189 403332 17 12166 11274 10.477 9763 9022 8544 802275497120 672927360075749 5.475 5.222 4.990 4775 4570 4.391 4.219 40503910 12.659 1690 10.3239.0599.372 876 8.2017702 72506.840 6.457 6.128 5.818 5,534 5.273 5.033 4.012 4.608 4.419 42434000 3.928 19 12085 1150 10.106 9604 3950 365 780923666.933 6.55061985.877 5.501 5.3 5.070 450 4605 442 423 4097 3942 20 13500 12.462 11.470 105949.818 9029 857963 2469 7025 6623 6.250 5.9295628 5.353 5101 450 4657 446042794110 3954 21 1402912921 11764 10.035 0.017 9292 86498.07575627102 6.687 6.3125.9735.665 5.354 5127 4091 46754.476 4292 4121 3.903 14451 13163 1201211051 102019.442 23.116 76457170 670 6.759 601 5.096 5410 5.149 4.909 4690 44884302430 3.970 20 14057 0349230311272 1037 9.500 3.03.2067718 7230 672 6.399 6,044 5723 5.432 5167 4.925 47034499 4311 407 3970 20 15 247 1.799 2.55090.529 9707 10153487714 72835835 5.434 6073 5.746 5.4515182 4.937 4.70 4507431 3.981 25 15 622 0912.750 165406750823 9.077 3.422 734 7330 6.73 6.04 6.097 5.766 5.467 5.195 4.0 1721 423 47 3985 15.93 375 003 1026 03109.929 9.61 848 796 7372 6.906 6.491 6113 57035.430 5.200495647284520 43284151 300 27 3706320 11907 10905 0.027 9.2378543 790 7409 6.935 6.5461965790 5.4825215495447344.524 4.3324154 3990 20 500 MB 13.406 2007 05:00 9.307860279847411 6.901 6.514 6.152 5.810 5.502 52234970 473945284335 4.157 3992 29 16.904 1511 13591 2.278158 50.198 9.370 650 022 7470 698365516166 5.820 5.50 5.2294.975 470 451 432 4150194 30 0212 537263.70524091250 10.274 907 8.6 8.055 749670036.566 6177 5.809 5.517 5235 499 4784534 4300 4.03995 10 1506 133321925 0757977989518244761471056642 62305.0 5.50 5.250 497 4700 4544 43999 Net operating income Click here to view Exhibit 14B-1 and Exhibit 14B-2, to determine the app If the company's discount rate is 12%, then the project's net present val Multiple Choice $534,300. O $484,000 $(958,000) $(500,590). Cost of new equipment Working capital required Annual net cash inflows Maintenance and repairs in third year Salvage. value of equipment in fourth year $210,000 $ 50,000 $100,000 $ 40,000 $ 25,000 58 Click here to view Exhibit 148-1 and Exhibit 148-2. to determine the appropriate discount factor(s) using the tables provided The working capital will be released at the end of the project and the company's required rate of return is 16%. The net present value of the project is closest to: sk Multiple Choice ances $45,460 $61460 5(31.260) O $35,560 ECHIBIT 148-1 Present Value of Stif Periods 49 5% 6% 7 8% 99 10% 11% 12% 13% 14% 155 16% 185 19% 20% 21% 22 234 24% 25% 1 0.962 0.952 0.943 0.935 0.926 0.917 0.909 0.901 0.893 0.885 0.877 0.870 0.862 0.855 0.847 0.840 0.833 0.826 0.820 0.813 0.806 0.800 2 0.025 0.9070890 0.873 0.8570.842 0.826 0.812 0.797 0783 0.769 0.7560743 0.731 0718 0.706 0.694 0.683 0.672 0.661 0.650 0.640 3 0.889 0.864 0840 0.816 0.794 0772 0.751 0.731 0712 0.693 0.6750658 0.641 0.624 0.609 0.593 0.579 0.564 0.551 0.537 0.524 0.512 4 0.855 0.823 0792 0.763 0735 0.708 0.683 0.659 0636 0.613 0.592 0.572 0.552 0.534 0.516 0.499 0.482 0.467 0.451 0.437 0.423 0.410 5 0.822 0784 0.747 0.713 0.681 0.650 0.621 0.593 0.567 0.543 0.519 0.497 0.476 0.456 0.437 0.419 0.402 0.386 0.370 0.355 0.341 0.328 6 0.790 0746 0705 0.666 0630 0596 0.564 0.535 0507 0.400 0.456 0432 0.410 0.390 0.370 0.352 0.335 0.319 0.303 0.289 0.275 0.252 7 0.750 0.711 0.665 0.623 0.583 0.547 0.513 0482 0.452 0.425 0.400 0.376 0354 0.333 0.314 0.296 0.279 0.263 0.249 0.2350222 0.210 8 0.731 0.677 0.627 0.582 0540 0.502 0.467 0.434 0.404 0.376 0.351 0.327 0305 0.285 0266 0249 0.2330 218 0.204 0.191 0179 0.168 9 07030645 0.592 0.544 0.500 0.460 0424 0.391 0.361 0.333 0.308 0284 0.263 0.243 0225 0.209 0:194 0.130 0.167 0.155 0144 0.134 10 0.675 0.61 0.558 0.50B 0.463 0.422 0.386 0.352 0.322 0.295 0.270 0247 0.227 0.208 0191 0.176 0.162 0149 0.137 0.126 0.116 0107 11 0.650 0.585 0.527 0.475 0.429 0.388 0.350 0.317 0.287 0.261 0237 02150195 0.178 0162 0143 0.135 0.123 0.112 0.103 0.094 0006 12 0.625 0.557 0.497 0.444 0.397 0.356 0.319 0.285 0.257 0.231 0.208 0187 0168 0.152 0137 0124 0.112 0.102 0.092 0.083 0.076 0.069 13 0.601 0.530 0.469 0.415 0.368 0.326 0.290 0.258 0.229 0.204 0.182 0163 0.145 0.130 0.116 0104 0.093 0.064 0.075 0.058 0.001 0.055 14 0.577 0.505 0.442 0.388 0.340 0.299 0.263 0232 0.205 0.181 0.160 0141 0.125 0.111 0.099 0.0830078 0.069 0.062 0.055 0.049 0.044 15 0.555 0.481 0.417 0.362 0.315 0.275 0239 0.209 0.183 0.160 0.540 0.123 0.100 0.095 0,084 0.074 0.065 0.057 0.051 0,045 0,0400035 16 0.534 0.458 0.394 0.3390.292 0.252 0.2180188 0163 0.141 0.123 0107 0.093 0.081 0.071 0.062 0.054 0.0470042 0.036 0032 0.028 17 0.513 0.436 0.371 0.317 0.270 0.231 0198 0.170 0:146 0.125 0.108 0.093 0.000 0.069 0.060 0,052 0.045 0.0390034 0.030 0.026 0.023 18 0.494 0.416 0.350 0.250 0.250 0.212 0 180 0.153 0.130 0.111 0095 0.081 0.069 0.050 0.051 004 0038 0.032 0.028 0.024 0.021 0.018 19 0.475 0.396 0331 0.277 0.232 0.194 0164 0.133 0.116 0.098 0.003 0.07000600051 0.043 0037 0.031 0.027 0023 0.020 0.017 0.014 20 0.456 0377 0.312 0.250 0.215 0179 0:149 01240104 0.087 0.073 0061 0.051 0.043 0.037 0.031 0.026 0.022 0.019 0,016 0.014 0.012 21 0.439 0.359 0.294 0.2420199 0164 0135 0.112 0.093 0.077 0064 0.053 0044 0.037 0.031 0.026 0.022 0.010 0,015 0,013 0.011 0.009 22 0.422 0.342 0278 0.226 0134 0150 0122 0.101 0.083 0.008 0.056 0.046 0.008 0.032 0.026 0.022 0.018 0.015 0013 0.01 23 0406 032 0.262 0211 0.0090.007 0170 0.1380112 0.0910074 0.060 0049 0.040 0.033 0.027 0022 0.018 0.015 0.012 0.010 0.0090.007 0.006 24 0.390 0.30 0.247 0197 0150 0126 0102 0.002 0.066 0.053 0043 0.035 0.028 0.023 0.019 0.01500130010 0.008 0.007 0.006 0.005 25 0.375 0.295 0.2330104 0146 0.116 0.092 0.07 0.059 0.047 0.038 0.030 0.024 0.020 0.016 000 0010 0.009 0.007 0.008 0.005 0.004 26 0.361 0281 0220 0172 0135 0106 0004 0.066 0.053 0042 0.033 0.026 0.021 0.01 0.01 0.011 0.009 0.007 0.006 0.005 0.001 0.003 22 0347 0.268 0.207 0161 0125 0098 0.076 0.060 0.047 0037 00290023 0.05 0.014 0.01 0.0090.007 0.000 0.005 0.004 0.000 0.002 20 0.333 0.2550196 01500116 0.000 0.000 0.054 0.042 003 0026 0.020 0.00 0.012 0010 0.000 0.008 0.005 0.004 0.000 0.002 0.002 0.32102430185 011 0107 0.002 0.003 0048 0037 0029 0022 0.01 0.01 0.01 0.008 0.005 0005 0004 0.003 0.002 0.002 0.002 0.30002310174 011 0.099 0.0750057 0044 0.0330026 0.020 0,015 0,012 0.009 0.007 0.005 0004 0.003 0.003 0.002 0.002 0.001 40 02000142 0097 0.067 0.0460012002200150011 000000050004 0.003 0.002 0.001 0.001 0.001 0.000 0000 0000 0000 0000 EHNIT SA-2 Prezent Value of an annuity of 31 in Armerz: [-] Periods 2 3 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 54 10% 11% 139 149 15% 17% 199 19% 20% 21% 235 24 25 0.962 0.952 0.943 0.935 0926 0912 0.909 0.901 0893 0.885 0.877 0.870 0.862 0855 0.847 0.840 0.833 0.826 0.820 0.313 0.806 0.800 1886. 1859 1833 1000 1783 1759 1736 1713 1690 1668 1647 1626 1605 15851566 1547 1528 1509 1492 1474 1457 1410 2775 2.723 2.573 2624 2577 2531 2.487 2444 2402 2361 2322 2283 2246 2210 2174 2140 2106 2074 2042 2011 1981 1952 3630 3546 3.465 3387 3312 3.240 3.170 3102 3037 2.9742914 2.855 2.798 2743 2690 2.639 2.589 2540 2494 2448 2.404 2362 4.452 4329 4212 4.100 3.993 3.890 3.791 3.696 3.605 3.517 3.433 3.352 3.274 3199 3127 3.058 2.991 2926 2.864 2.803 2745 2689 5.2425.076 4917 4767 4496 4.355 4231 4111 3.9983.8893784 36853.589 3.498 3.410 3.326 3245 3367 3.092 3.020 2.951 6002 5.786 5582 5.339 5206 5.033 48684712 4564 4423 4288 4550 4.039 3.922 38123.706 3.605 3.508 3.416 3.327 3.2423161 6.733 6.210 5.971 5747 5.535 5.335 5146 4968 479946394487 43444207 4.078 3.954 3.837 3726 3.619 3.518 3.421 3.329 7435 7108 6.802 6.515 6247 5.995 5759 5.537 5328 5132 4.9464772 4 507 4451 4303 4163 4.001 3.905 3.796 3.673 3.566 3.463 8.111 7722 7360 7024 6710 6.419 6.545 5.899 5.650 5.426 5.216 5.099 4833 4659 4.494 43194192 4054 3.923 3.799 3.682 3.571 8.760 8.306 7887 7499 7139 6.805 6.4956.207 5.938 5687 5.453 5.234 5.029 4836 4.656 4.436 4.327 4177 4.035 3.902 3.776 3.656 9.385 8.863 8.384 7.943 7536 7161 6.814 6.492 6.1945.918 5.660 5.421 5197 4900 47934611 4439 4278 4127 3.985 3.851 3.725 9.986 9.394 8.853 8.358 7904 7.487 2303 6.750 6.424 6.122 5.342 5.583 5.342 5118 4910 4715 4.533 4362 4203 4053 3.912 3.780 10.563 9.899 9.295 8345 8.244 2786 73676.982 6 628 6302 6.002 5724 5.468 5229 5.008 402 4.611 4432 42654.108 3.962 3.824 11118 10.30 9.712 9108 8.5598.061 7606 7191 5.811 6.652 6542 5.847 5.575 5.324 5.092 4876 4,675 4.489 4.315 4.153 4.001 3.859 11652 10.838 10:106 9.447 8.851 782473796.974 6,604 6.265 5.954 5668 5.4055162 49384730 4.536 4357 4.199 4033 3.887 12.00 11274 10.477 9.763 9.122 8.544 8.02275497120 67296.373 6.047 5749 5.4755222 4.990 4775 4.576 43914219 4.059 3.910 12659 1690 1002010.050 9.372 8756 8.201 7702 7250 6.840 6.467 6.128 5.818 5534 5.2735,033 4.812 4608 4.419 420 400 3.928 13034 1200511158 10.3069604 8.950 8.365 789 7366 6.938 6.5506198 5.877 5.584 5.316 5.07048434635 44424200 4097 3.942 13.590 12.462 11.470 10.5949.318 909 8.517963 7469 7025 6.623 6.259 5.929 5.628 5.353 5101 4.870 4657 4.400 42794110 3954 10292821 124 1035 10.017 9.292 8.619 3.0757562 7102 6.687 6.312 5.9735.6655.384 5127 4.891 4675 4.476 42924121 3.963 14451 13.163 12042 1061 10.2019.442 8.7728.176 7.645 2170 6743 6359 0.0115.695 5.40 5.59 4.909 46904.48343024130 3.970 14.057 3.439 12.30311272 10.371 9.580 8.80 8.206 7718 7.230 6.792 6.399 6.044 5723 5.432 5.167 4.925 4703449931 4137 3.970 15 247 13.799 12.550 11409 10.529 9.707 395348 7754 7.283 6.055 6.404 6.073 5746 5.451 5182 4.937 4713 45074313453 3.901 15.622 14.094 12783 1654 106759823 9.077 3.4227043 73306.073 6.464 6.0975765 5.467 5.195 4948 4721 45144323 4547 15.903143753003 1026 10.810 9.929 9.101 8.4807096 7372 0.906 64916118570) 5.430 5206 49564720 4520 43284151 3.908 16.33014643 13.211 10:00510027 9.237 8.540 790 7400 6.935 65146.136 5.793 5.492 5.215 4.964 4734 4524 43324154 3.990 1600314098406 2007 11.051 10.110 9.307 602 79814 7441 6961 6534 6152 5.810 5.502 5.223 4.970 473945284335 4.157 3.992 10.9641541 13.591 2.27611158 10190 9.370 8.650 3.022 7470 6903 6.55161065.820 5.50 5.2294975 4743 4531 432 4150 3.994 17.292 15372 1705 2400 1125810279427 0948055 7496 700365066177 5.8295.517 5.235 497949464534 4300 4.100 3.905 19.793 17150 15.045 032119250757 9.779 3.951 8.244 7634 7105664262335.8715.548 5.258 4997 4700 454143474100 3.900 20 27 28 29 30 40 $440,000 Initial investment: Cost of equipment (zero salvage value) Annual revenues and costs: Sales revenues Variable expenses Depreciation expense Fixed out-of-pocket costs $300,000 $130,000 $ 50,000 $ 40,000 Click here to view Exhibit 14B-1 and Exhibit 14B-2, to determine the appropriate discount factor(s) using the tables provided. If the company's discount rate is 12%, then the net present value for this investment is closest to: Multiple Choice $28,650 $(51,600) $(151,600) 51516on