QUESTION 50 5 point You have noticed an ad listing a motel for sale. Alter doing some research, you estimate that the 20 rooms can be rented for $60 per day with an occupancy rate of 80% per year. You have found a management company that will run the motel and take care of daily housekeeping for 10% of the rents. You estimate that repairs and maintenance costs will be $3,000 per month and that other cash expenses will be $4,000 per month. You plan to sell the motel at the end of the third year for $500,000. How much are annual net cash flows? Ignoring taxes, how much would you pay for the motel to eam exactly 20% on your investment? A none of the listed choices B. 5 776,708 C. 5 289,360 D. 5 487,356 E. 5231,360 QUESTION 51 According to the article "What It Takes to be Great", the best people in any field A. devote the most hours to "deliberate practice" B. need about 6 years of hard work to become world-class C. start with some natural talent D. none of these are true E. A and B are true QUESTION 52 Which account will never be included in a closing journal entry? A. Sales B. Interest expense C. Retained Earnings D. Cost of Sales E. Allowance for Doubtful Accounts