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Welch Corporation is planning an investment with the following characteristics (Ignore income taxes.): ...

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Accounting

Welch Corporation is planning an investment with the following characteristics (Ignore income taxes.):

Useful life 6 years
Yearly net cash inflow $ 60,000
Salvage value $ 0
Internal rate of return 16 %
Required rate of return 12 %

Click here to view Exhibit 13B-1 and Exhibit 13B-2, to determine the appropriate discount factor(s) using the tables provided.

The initial cost of the equipment is closest to:

A)Cannot be determined from the given information.

B) $221,100

C) $231,450

D) $300,100

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