Question: 15) A machine costs $50,000 today and has an estimated scrap (salvage) cash value of $10,000 afte…

01 May Question: 15) A machine costs $50,000 today and has an estimated scrap (salvage) cash value of $10,000 afte…

Posted at 04:08h in 2Past Paper by Exams

15) A machine costs $50,000 today and has an estimated scrap (salvage) cash value of $10,000 after ten years. Inflation is 6% per year. The effective annual interest rate earned on money invested is 296. How much money needs to be set aside each year to replace the machine with an identical model ten years from now? (Hint #1: first determine the cost of the machine after inflation of the price for 10 years). (Hint #2: the salvage value is cash available at year 10, so it reduces the purchase of the machine by that much at year 10). a) $5440 b) $6040 c) $6625 d) $7265

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