I need answer of ques 10

9) Michael purchased an Ice Cream street vending bicycle for $7500 when he was in 8" grade five years ago. Over the past five years Michael has enjoyed consistent operating income on average of $1000 per year. Michael has decided however that the time has come to sell the bicycle and is preparing some financial ratios to put in the "for sale" listing. He has asked you to help him calculate his return on investment. He has told you that the bicycle was expected to last 10 years from the time of purchase and he uses straight line depreciation and that if he were to acquire a similar bicycle today would cost him double his original purchase price. Calculate the ROI using current Net Book Value as your Average Operating Assets (round to one decimal i.e. XX.X%) 10) From the information provided in question 9) above, and if Michael could sell the bicycle for $10,000, and the buyer had a required rate of return of 9%, calculate the buyer's Residual Income for the recent year of operations (to nearest dollar)