Your machine is wearing out and generates less profit each


Your machine is wearing out, and generates less profit each year. You expect to receive $10,000 in profit at the end of this year, but this will decrease 5% a year for the next 10 years. If you have a 5% interest rate on your investments, what is the Present Value of the profits over the next 10 years.

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Financial Management: Your machine is wearing out and generates less profit each
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