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Question 1: Tom Bat became a baseball enthusiast at a very early age. All of his baseball experience has provided him valuable knowledge of the sport, and he is thinking about going into the batting cage business. He estimates the construction of a state-of-the-art building and the purchase of necessary equipment will cost $840,000. Both the facility and the equipment will be depreciated over 12 years using the straight-line method and are expected to have zero salvage values. His required rate of return is 9% (present value factor of 7.1607). Use PV of an Annuity of 1. Estimated annual net income and cash flows are as follows:
Revenue $350,500
Less:
Utility cost $40,000
Supplies$8,000
Labor141,000
Depreciation70,000
Other 38,500
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