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(Ignore income taxes in this problem.) The management of Melchiori Corporation is considering the purchase...

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Accounting

(Ignore income taxes in this problem.) The management of Melchiori Corporation is considering the purchase of a machine that would cost $310,000, would last for 6 years, and would have no salvage value. The machine would reduce labor and other costs by $116,000 per year. The company requires a minimum pretax return of 16% on all investment projects. The present value of the annual cost savings of $116,000 is closest to:

$427,460

$696,000

$175,448

$1,041,462

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