Unit VIII question 12 Blossom Service Center just purchased an automobile hoist for $36,900. The hoist has an 8-year life and an estimated salvage value of$3,000. Installation costs and freight charges were $3,900 and $800, respectively. Blossom uses straight-line depreciation.The new hoist will be used to replace mufflers and tires on automobiles. Blossom estimates that the new hoist will enable itsmechanics to replace 5 extra mufflers perweek. Each muffler sells for $71 installed. The cost of a muffleris $39, and the labor cost toinstall a muffler is $12.(a)Compute the cash payback period for the new hoist.Cash payback period(b).Compute the annual rate of return for the new hoist. (Round answer to 2 decimal places, e.g. 10.52%.).Annual rate of returne Textbook and MediaSevefor LaterAttempts: 0 of 3 usedSubmit Answer

Data given: Purchase price of automobile hoist =$ 36,900 Salvage value = $3000 Installation cost =…

Answered: Unit VIII question 12

Essentials Of Investments

11th Edition

ISBN:9781260013924

Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Chapter1: Investments: Background And Issues

Section: Chapter Questions

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