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On January 15, 2025, Sheridan Corp. adopted a plan to accumulate funds for environmental improvements beginning July 1, 2029, at an estimated cost of
On January 15, 2025, Sheridan Corp. adopted a plan to accumulate funds for environmental improvements beginning July 1, 2029, at an estimated cost of $8650000. Sheridan plans to make four equal annual deposits in a fund that will earn interest at 12% compounded annually. The first deposit was made on July 1, 2025. Future value factors are as follows: Future value of 1 at 12% for 5 periods 1.76 Future value of ordinary annuity of 1 at 12% for 4 periods 4.78 Future value of annuity due of 1 at 12% for 4 periods 5.35 Sheridan should make four annual deposits of $1538872: $1809622. $2162500. O $1616822.
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