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Farris Company is considering a cash outlay of $500,000 for the purchase of land, which...

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Accounting

  1. Farris Company is considering a cash outlay of $500,000 for the purchase of land, which it could lease for $40,000 per year. If alternative investments are available that yield a 15% return, the opportunity cost of the purchase of the land is

    a.$7,500

    b.$75,000

    c.$44,000

    d.$40,000

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