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Question - In June 2008, when gasoline prices were at an all-time high (more than $3.67 per gallon), Chrysler Motor Company promoted its Jeep vehicle with the offer of either $3,500 off the price of the vehicle or the guarantee that the buyer would not pay more than $2.50 per gallon of gas for the next 3 years (the details of the guarantee could vary by dealer).
Required -
1. Assume that the Jeep vehicle you are interested in gets 15 mpg combined city/highway and that at the time of purchase, you expected gasoline prices to average $4.82 per gallon over the next 3 years. How many miles would you have to drive the vehicle in the next 3 years to make the guarantee more attractive than the $3,500 discount?
2. Assume the same information as in requirement 1, except the average price of gas for the next 3 years is not known and you are likely to drive 7,500 miles per year. What would the breakeven gasoline price in the coming 3 years need to be to make you indifferent between the two options?
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olbeat Corp. shows the following information on its 2015 income statement: sales = $251,000; costs = $156,000; other expenses = $7,900; depreciation expense = $18,400; interest expense = $14,400; taxes = $19,005; dividends = $11,500. In addition, ..
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