Page: Chapter 7 According to legend, Manhattan Island was bought by the Dutch from the local Indians for s24.00 in 1626. In 1991 the island's land was valued at $12,000,000,000.00. What rate of return would the Indians have received if they had retained title? Assume payment is at the beginning of 1626 and the land value is at the end of 1991. Provide a cashflow diagram, write your symbolic equation using the Author's notation, then solve using the appropriate exact formula from the inside front cover of the textbook in place of the symbolic notation. Page. Chapter 6 A certain industrial firm desires an economic analysis to determine which oftwo different machines should be purchased. Each machine is capable of performing the same task in a given amount of time. Assume the minimum attractive rate of return (MAR) is 8%. The following data are to be used in your analysis. Machine Y $8,000.0 $ 150.00 $2,000.00 12 Machine X $5,000.00 First Cost Annual Maintenance Cost0.00 Salvage value Estimated life, in years S0.00 Which machine would you choose? Base your answer on annual cost