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Pharoah Inc. is planning to expand operations into South America in 8 years. The first...

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Accounting

Pharoah Inc. is planning to expand operations into South America in 8 years. The first three years, Pharoah will spend on feasibility and marketing studies. Once those studies are complete, Pharoah plans to invest $205000 per year for the remaining five years. What amount will Pharoah have at the end of the eight-year period for the expansion assuming a 12% interest rate?

(a) $2615238 (b) $1025000 (c) $1533455 (d) $1328455

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