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Income from mining of mineral deposits usually decreases as the resource becomes more difficult to extract --- as illustrated by mining operations in Butte. Determine the present worth of a mineral lease that yields income of $14,000 in years 1 through 4 and then amounts that decreased by 5% per year through year 10, when the operation is shutdown. Use an interest rate of 18% per year.

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Financial Management, Finance

Category:- Financial Management
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