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Sherwin Williams will receive $20,250 a year for the next 18 years as a result of a picture he has painted. Assume a discount rate
Sherwin Williams will receive $20,250 a year for the next 18 years as a result of a picture he has painted. Assume a discount rate of 8 percent is applied. Use Appendix D. (a) Calculate the present value? (Round "PV Factor" to 3 decimal places and final answer to the nearest dollar amount. Omit the "$" sign in your response.) Present value $ (b) Should he be willing to sell out his future rights for $171,000? No Yes http://lectures.mhhe.com/connect/0073530727/Images/Appendix_D.JPG
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