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Washington-Pacific invested $5 million to buy a tract of land and plant some young pine trees. The trees can be harvested in 10 years, at
Washington-Pacific invested $5 million to buy a tract of land and plant some young pine trees. The trees can be harvested in 10 years, at which time W-P plans to sell the forest at an expected price of $9 million. What is W-Ps expected rate of return?
Please show calculator or excel steps. (Identify N, I/Y, PV, PMT, and FV)
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