What would be the equivalent value of expenditure today

Reference no: EM13239462

The U.S. Border Patrol is considering the purchase of a new helicopter for aerial surveillance of the New Mexico-Texas border with Mexico. A similar helicopter was purchased 4 years ago at a cost of $140,000. At an interest rate of 7% per year, what would be the equivalent value today of that $140,000 expenditure?

Reference no: EM13239462

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