Problem
Pass-Time Pool Hall may buy 10 of the finest slate pool tables available. Each table will cost $12,000 and have an unknown residual value. Pass-Time's management is certain that business will increase and that the hall will be able to host a number of tournaments. The expected increase in net revenues is $22,000 each year for the next 8 years. Determine each table's residual value if the PW is to equal zero. The cost of money for Pass-Time is 10%.
The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.