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What is the maximum price coleman should pay for equipment

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Reference no: EM132420246

Coleman Company is considering purchasing equipment. The equipment will produce the following cash flows: Year 1, $42,500; Year 2, $44,500; and Year 3, $56,900. Coleman requires a minimum rate of return of 10%.

What is the maximum price Coleman should pay for this equipment? (Round answer to 2 decimal places, e.g. 25.25.)

Reference no: EM132420246

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