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