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The Cook County Authority is considering the purchase of a small plane to transport government officials. It is hoped that the plane will save money
The Cook County Authority is considering the purchase of a small plane to transport government officials. It is hoped that the plane will save money on travel costs for government employees. Assume the county requires an percent rate of return.
Using the present value tables in Exhibits and If the planes cost is $ and it can likely be sold in six years for $ what minimum annual savings in transportation costs are needed to make the plane a good investment?
Note: Round Present value factor to decimal places. Round final answer to the nearest whole dollar.
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