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To open a new store, Fanning Tire Company plans to invest $280,000 in equipment expected...

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Accounting

To open a new store, Fanning Tire Company plans to invest $280,000 in equipment expected to have a five -year useful life and no salvage value. Fanning expects the new store to generate annual cash revenues of $319,000 and to incur annual cash operating expenses of $192,000. Fannings average income tax rate is 30 percent. The company uses straight-line depreciation. Required Determine the expected annual net cash inflow from operations for each of the first four years after Fanning opens the new store

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