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Question - Michaels, Inc., purchased a machine for $75,000. The machine has a useful life of five years and no salvage value. Straight-line depreciation is to be used. The machine is expected to generate cash flow from operations, net of income taxes, of $25,000 in each of the five years. Michaels' expected rate of return is 10%. Information on present value factors is as follows:
Period
Present Value of $1 at 10%
Present value of ordinary annuity of $1 at 10%
1
0.90909
2
0.82645
1.73554
3
0.75132
2.48685
4
0.68301
3.16986
5
0.62092
3.79079
Required - What would be the net present value?
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