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Pendley Company is considering purchasing equipment. The equipment will produce the following cash flows: Year 1, $40,500; Year 2, $42,100; and Year 3, $54,200. Pendley requires a minimum rate of return of 9%. Click here to view the factor table. (For calculation purposes, use 5 decimal places as displayed in the factor table provided.) What is the maximum price Pendley should pay for this equipment? (Round answer to 2 decimal places, e.g. 25.25.) The maximum price Pendley should pay $ =?

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Financial Accounting, Accounting

Category:- Financial Accounting
Reference No.:- M91964043

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