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Dixon Weed Seeds Inc. is considering expanding. An outlay of?$173 million is required for equipment for the? expansion, andadditional net working capital of ?$16 million is required tosupport the expansion. The equipment is expected to have aproductive life of 9 ?years, and will be depreciated over 9 yearsto ?$25.31 million. It is expected to be sold at the end of itslife for ?$20.76 million. Revenues minus expenses are expected tobe ?$37.368 million per year for the life of the equipment. The?corporation's marginal tax rate is 26?% and the cost of capital forthis investment is 9?%. Compute the NPV of? Dixon's proposedexpansion. ? (In $millions with 3? decimals.)
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