Homework: Homework #6 Save Score: 0 of 1 pt 10 of 10 (0 complete) HW Score: 0%, 0 of 10 pts Problem 6-36 (algorithmic) Question Help You are considering developing an 18-hole championship golf course that requires an investment of $20,000,000. This investment cost includes the course development, club house, and golf carts. Once constructed, you expect the maintenance cost for the golf course to be $600,000 in the first year 5665,000 in the second year and continue to increase by 565,000 in subsequent years. The net revenue generated from selling food and beverage will be about 12% of greens fees paid by the players. The cart fee per player is $24 and 42,000 rounds of golf are expected per year. You will own and operate the course complex for 8 years and expect to sell it for $25,000,000 What is the greens fee per round that will provide a return on investment of 12%? Assume that the greens fee will be increased at an annual rate of 6% Click the icon to view the interest factors for discrete compounding when := 6% per year Click the icon to view the interest factors for discrete compounding when /= 12% per year. edit: 0 The groens foe that will provide a return on investment of 12% is $ per round (Round to the nearest cent.) Que Que Enter your answer in the answer box and then click Check Answer All parts showing Clear All CHASE This course (ECON 430 Sect. # Fall 2020) is based on Park, Fundamentals of Engineering Economics 4 om to search * Homework: Homework #6 Save Score: 0 of 1 pt 10 of 10 (0 complete) HW Score: 0%, 0 of 10 pts Problem 6-36 (algorithmic) Question Help You are considering developing an 18-hole championship golf course that requires an investment of $20,000,000. This investment cost includes the course development, club house, and golf carts. Once constructed, you expect the maintenance cost for the golf course to be $600,000 in the first year 5665,000 in the second year and continue to increase by 565,000 in subsequent years. The net revenue generated from selling food and beverage will be about 12% of greens fees paid by the players. The cart fee per player is $24 and 42,000 rounds of golf are expected per year. You will own and operate the course complex for 8 years and expect to sell it for $25,000,000 What is the greens fee per round that will provide a return on investment of 12%? Assume that the greens fee will be increased at an annual rate of 6% Click the icon to view the interest factors for discrete compounding when := 6% per year Click the icon to view the interest factors for discrete compounding when /= 12% per year. edit: 0 The groens foe that will provide a return on investment of 12% is $ per round (Round to the nearest cent.) Que Que Enter your answer in the answer box and then click Check Answer All parts showing Clear All CHASE This course (ECON 430 Sect. # Fall 2020) is based on Park, Fundamentals of Engineering Economics 4 om to search *