Business, 04.03.2020 18:46, thomasalmo2014

A mine is for sale for $800,000. It is believed the mine will produce a profit of $250,000 the first year, but the profit will decline $25,000 a year after that, eventually reaching zero, whereupon the mine will be worthless. What rate of return would be earned on the mine

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A mine is for sale for $800,000. It is believed the mine will produce a profit of $250,000 the first...