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You are planning to build an apartment building. Your market research department estimates that your revenues will be $9.0 million. Your engineering department estimates the
You are planning to build an apartment building. Your market research department estimates that your revenues will be $9.0 million. Your engineering department estimates the cost will be $6.0 million. You have started construction and spent $1.5 million to build the foundation when the recession begins. This causes the market research department to revise its revenue estimates downward to $4.0 million. Should you complete the apartment building?
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