Multiple Choice
Jerome operates a car repair shop and is considering whether to purchase a computer diagnostic tool for Korean automobiles. The tool, which costs $4,000, will enable Jerome to service Korean automobiles. This added business will give Jerome additional income of $2,000 in each of the next three years. The net present value of the tool at 5.5% is $____.
A) 1,395.87
B) 5,395.87
C) 5,687.20
D) 1,692.64
Correct Answer:
Verified
Correct Answer:
Verified
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