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Phil emley owns a garage and is contemplating purchasing a

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Phil Emley owns a garage and is contemplating purchasing a tire retreading machine for $20,000. After estimating costs and revenues, Phil projects a net cash flow from the retreading machine of $4,200 annually for 7 years. Phil hopes to earn a return of 11 % on such investments.What is the present value of the retreading operation?

Reference no: EM13594046

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