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Beta Company plans to replace its company car with a new one. The new car...

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Finance

Beta Company plans to replace its company car with a new one. The new car costs P120,000 and its estimated useful life is five years without scrap value. The old car has a book value of P15,000 and can be sold at P12,000. The acquisition of the new car will yield annual cash savings of P30,000 before income tax. Income tax rate is 25%. The IRR of the investment is

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