5c. An elective project is currently under review. It requires an initial investment of $116,000 for equipment. The profit is expected to be $28,000 each year, over the 6-year project period. The salvage value of the equipment at the end of the project period is projected to be $22,000. Find the ERR for this project.

Database System Concepts
7th Edition
ISBN:9780078022159
Author:Abraham Silberschatz Professor, Henry F. Korth, S. Sudarshan
Publisher:Abraham Silberschatz Professor, Henry F. Korth, S. Sudarshan
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Please write by hand. Not in excell please. NOT IN EXCELL PLEASE
5c. An elective project is currently under review. It requires an initial investment of $116,000 for equipment. The profit is
expected to be $28,000 each year, over the 6-year project period. The salvage value of the equipment at the end of the
project period is projected to be $22,000.
Find the ERR for this project.
Transcribed Image Text:5c. An elective project is currently under review. It requires an initial investment of $116,000 for equipment. The profit is expected to be $28,000 each year, over the 6-year project period. The salvage value of the equipment at the end of the project period is projected to be $22,000. Find the ERR for this project.
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