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Chemical engineers at a Coleman Industries plant in the Midwest have determined that a small...

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Chemical engineers at a Coleman Industries plant in the Midwest have determined that a small amount of a newly available chemical additive will increase the water repellency of Coleman's tent fabric by \20. The plant superintendent has arranged to purchase the additive through a 5 -year contract at \\$7000)per year, starting I year from now. He expects the amnual price to increase by \12 per year thereafter for the next 8 years. Additionally. an initial investment of \\( \\$ 35,000 \\) was made now to prepare a site suitable for the contractor to deliver the additive. Use \i=15 per year to determine the equivalent total present worth for all these cash flows. \\( P=35 \\)

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