Econint recently bought a company and wants to determine the optimal time to sell it. The

partner in charge of this investment has estimated the after-tax cash flows from a sale at

different times to be as follows: R700 000 if sold one year later; R1 000 000 if sold two years

later; R1 200 000 if sold three years later; and R1 300 000 if sold four years later. The

opportunity cost of capital is 12 %

Required: Advise on the best time for Econint to sell the company and provide supportive justification for your answer