3.1 In anticipation of a much bigger volume of business after 10 years, a fabrication...
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3.1 In anticipation of a much bigger volume of business after 10 years, a fabrication company purchased an adjacent lot for its expansion program where it hopes to put up a building projected to cost P4,000,000.00 when it will be constructed 10 years after. To provided for the required capital expenses, it plans to put up a sinking fund for the purpose.How much must the company deposit each year if interest to be earned is computed at 15%.
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