April 1 Borrow $50,000 from the bank by signing a note. April 2 Issue common stock in exchange for cash of $20,000. April 7 Purchase equipment for $40,000 cash. April 10 Purchase cleaning supplies of $4,000 on account. April 12 Provide services of $5,000 for cash. April 16 Pay employees $1,200 for work performed. April 19 Pay for advertising in a local newspaper, costing $500. April 23 Provide services of $7,000 on account. April 29 Pay employees $1,500 for work performed. April 30 A utility bill of $1,200 for the current month is paid. April 30 Pay dividends of $700 to stockholders.

You are working on a bid to build two city parks a year for the next three years. this project requires the purchase of $249,000 of equipment that will be depreciated using straight-line depreciation to a zero book value over the three-year project life. ignore bonus depreciation. the equipment can be sold at the end of the project for $115,000. you will also need $18.000 in net working capital for the duration of the project. the fixed costs will be $37000 a year and the variable costs will be $148,000 per park. your required rate of return is 14 percent and your tax rate is 21 percent. what is the minimal amount you should bid per park? (round your answer to the nearest $100) (a) $214,300 (b) $214,100 (c) $212,500 (d) $208,200 (e) $208,400