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P5-20 (similar to) Question Help (Related to Checkpoint 5.6) (Solving for O Lance Murdock purchased a wooden statue of a Conquistador for S7 100
P5-20 (similar to) Question Help (Related to Checkpoint 5.6) (Solving for O Lance Murdock purchased a wooden statue of a Conquistador for S7 100 to put in his home office 6 years ago. Lance has recently married, and his home office is being converted into a sewing rootw His new wife, who has far better taste than Lance, thinks the Conquistador is hideous and must go immediately Lance decided to sell it on e-8ay and only received SS 400 for it, and so he took a loss on the investment What was his rate of return, that , the value of P What was Lance Murdock's rate of return, that is, the value of Enter a negative percentage for a loss. % (Round to two decimal Dlaces.
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