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Crane Enterprises earns 6% on an investment that pays back $91,500 at the end of each of the next 6 years. Click here to view the factor table. What is the amount Crane Enterprises invested to earn the 6% rate of return? (For calculation purposes, use 5 decimal places as displayed in the factor table provided. Round answer to 2 decimal places, e.g. 25.25.) Crane Enterprises invested $

Crane Enterprises earns 6% on an investment that pays back $91,500 at the end of each of the next 6 years. Click here to view the factor table. What is the amount Crane Enterprises invested to earn the 6% rate of return? (For calculation purposes, use 5 decimal places as displayed in the factor table provided. Round answer to 2 decimal places, e.g. 25.25.) Crane Enterprises invested $

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Crane Enterprises earns 6% on an investment that pays back $91,500 at the end of each of the next 6 years. Click here to view the factor table. What is the amount Crane Enterprises invested to earn the 6% rate of return? (For calculation purposes, use 5 decimal places as displayed in the factor table provided. Round answer to 2 decimal places, e.g. 25.25.) Crane Enterprises invested $
Transcribed Image Text:Crane Enterprises earns 6% on an investment that pays back $91,500 at the end of each of the next 6 years. Click here to view the factor table. What is the amount Crane Enterprises invested to earn the 6% rate of return? (For calculation purposes, use 5 decimal places as displayed in the factor table provided. Round answer to 2 decimal places, e.g. 25.25.) Crane Enterprises invested $
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