Given scenario: It is given that Person X and his three friends would like to open a restaurant, in which Person X has 20 years of experience. Person X thought that he can make some good money if he offered good food. However, they did not have enough amount. They need at least $100,000 to survive until the business earns a profit. To determine: The best source of financing.

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Chapter 3, Problem 3.17TE

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Given scenario:

It is given that Person X and his three friends would like to open a restaurant, in which Person X has 20 years of experience. Person X thought that he can make some good money if he offered good food. However, they did not have enough amount. They need at least $100,000 to survive until the business earns a profit.

To determine: The best source of financing.

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