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Question - Pigpen Construction Inc. is considering the purchase of a backhoe. Pigpen's required rate of return is 7%. The expected net cash inflows generated by the new asset are as follows:
Years Amount Per Year Nature of the cash flow
1-4 $30,000 Net operating revenue
5-9 $25,000 Net operating revenue
10 $20,000 Net operating revenue
10 $10,000 Sale of asset
Required: Assuming the net cash inflows can be realized and occur at the end of each period, determine the following:
1. The maximum amount Pigpen should be willing to pay for the backhoe.
2. The amount at which the backhoe should be recorded at date of acquisition.
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