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Please answer the following accounting question. Crane Company is considering purchasing equipment. The equipment will produce the following cash inflows: Year 1, $31.000; Year 2.
Please answer the following accounting question.
Crane Company is considering purchasing equipment. The equipment will produce the following cash inflows: Year 1, $31.000; Year 2. $37.000; and Year 3, $46,000. Crane requires a minimum rate of return of 10%. Click here to view the factor table. (For calculation purposes, use 5 decimal places as displayed in the factor table provided.) What is the maximum price Crane should pay for this equipment? (Round answer to 2 decimal places, eg. 25.25.) Maximum price $ $Step by Step Solution
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