1. Suppose an engineer is considering a purchase of equipment that is expected to be obsolete in five years. The machine is worth 1,700,000 php. The prevailing rate of interest is 15%. Suppose he made an estimate of his gross yearly income as follows: YEAR 1: (400,000 php). YEAR 2: (500,000 php). YEAR 3: (450,000 php). YEAR 4: (450,000 php). YEAR 5: (475,000 php). Is the business profitable? Prove your answer.

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