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Concord's Recording Studio rents studio time to musicians in 2-hour blocks. Each session includes the...

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Concord's Recording Studio rents studio time to musicians in 2-hour blocks. Each session includes the use of the studio facilities, a digital recording of the performance, and a professional music producer/miver. Anticipated annuaf volume is 1,170 sessions. The company has invested $2,395,575 in the studio and expects a return on investment (RO) of 20%. Budgeted costs for the coming year are as follows

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