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Steve Bowie is trying to determine the amount to set aside so that he will...

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Accounting

Steve Bowie is trying to determine the amount to set aside so that he will have enough money on hand in 5 years to overhaul the engine on his vintage used car. While there is some uncertainty about the cost of engine overhauls in 5 years, by conducting some research online, Steve has developed the following estimates. Engine Overhaul Estimated Cash Outflow $270 590 840 980 Probability Assessment 10% 30%

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