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Chris LeBlanc estimates that if he does 5 hours of research using data that will cost $73.00, there is a good chance that he can
Chris LeBlanc estimates that if he does 5 hours of research using data that will cost $73.00, there is a good chance that he can improve his expected return on a $10,000, 1-year investment from 7.7% to 9.7%. Chris feels that he must earn at least $18.50 per hour on the time he devotes to his research. a. Find the cost of Chris's research. b. By how much (in dollars) will Chris's return increase as a result of the research? c. On a strict economic basis, should Chris perform the proposed research? a. Chris's research costs $ (Round to the nearest cent.) b. Chris's return will increase by $ (Round to the nearest cent.) c. On a strict economic basis, should Chris perform the proposed research? (Select from the drop-down menus.) the expected increase in return is than the cost of doing the research
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