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You have been hired as a consultant for Pristine Urban-Tech Zither, Incorporated (PUTZ), manufacturers of fine zithers. The market for zithers is growing quickly. The

You have been hired as a consultant for Pristine Urban-Tech Zither, Incorporated (PUTZ), manufacturers of fine zithers. The market for zithers is growing quickly. The company bought some land three years ago for $1,290,000 in anticipation of using it as a toxic waste dump site but has recently hired another company to handle all toxic materials. Based on a recent appraisal, the company believes it could sell the land for $1,500,000 on an aftertax basis. In four years, the land could be sold for $1,500,000 after taxes. The company also hired a marketing firm to analyze the zither market, at a cost of $185,000. An excerpt of the marketing report is as follows: The zither industry

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