Question
You've made a deal to sell used machinery for which you will receive $6,000 a year for the next 5 years. However, you're short on
You've made a deal to sell used machinery for which you will receive $6,000 a year for the next 5 years. However, you're short on cash and the bank is willing to lend you the present value of the total you would receive at a discount of 10% per year. If you accept the loan, how much cash would you receive now?
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The Board Of Directors And Audit Committee Guide To Fiduciary Responsibilities Ten Critical Steps To Protecting Yourself And Your Organization
Authors: Sheila Moran CPA CFE, Ronald Kral CPA CMA
1st Edition
0814431666, 978-0814431665
