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U.S. Steel is considering a plant expansion to produce austenitic, precipitation hardened, duplex, and martensitic...

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Accounting

U.S. Steel is considering a plant expansion to produce austenitic, precipitation hardened, duplex, and martensitic stainless steel round bars that is expected to cost $16 million now and another $10 million 1 year from now. If total operating costs will be $1.7 million per year starting 1 year from now, and the estimated salvage value of the plant is virtually zero, how much must the company make annually in years 1 through 9 to recover its investment plus a return of 24% per year

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