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Income from a mining operation usually decreases as the resource becomes more difficult to extract. Determine the equlavient annual revenue of a 10-year mineral lease
Income from a mining operation usually decreases as the resource becomes more difficult to extract. Determine the equlavient annual revenue of a 10-year mineral lease that yielded Income of $16,711 in years 1 through 4 and then amounts that decreased by $836 per year through year 10. Use an interest rate of 5% The equivalent annual revenues over the 10-year lease is $ 15193 . (Round to the nearest dollar)
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