Oriole Company is considering an investment that will return a lump sum of $850,000 6 years from now. Click here to view the factor table. What amount should Oriole Company pay for this investment to earn an 8% 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.) Oriole Company should pay $

Principles of Accounting Volume 2
19th Edition
ISBN:9781947172609
Author:OpenStax
Publisher:OpenStax
Chapter11: Capital Budgeting Decisions
Section: Chapter Questions
Problem 5PA: Falkland, Inc., is considering the purchase of a patent that has a cost of $50,000 and an estimated...
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Oriole Company is considering an investment that will return a lump sum of $850,000 6 years from now.
Click here to view the factor table.
What amount should Oriole Company pay for this investment to earn an 8% 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.)
Oriole Company should pay
$
Transcribed Image Text:Oriole Company is considering an investment that will return a lump sum of $850,000 6 years from now. Click here to view the factor table. What amount should Oriole Company pay for this investment to earn an 8% 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.) Oriole Company should pay $
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