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The cost of lighting and maintaining the tallest smokestack in the US (at a shuttered ASARCO refinery) is $90,000 per year. At an interest rate of 10% per year, the present worth of maintaining the smokestack for 10 years is closest to: a. $1,015,000 GE 311 Financial Decisions in Engineering Skill Development Assignment

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abiolataiwo2015

Answer:

$553,000

Explanation:

Calculation for the present worth of maintaining the smokestack for 10 years

Present worth=$90,000(P/A,10%,10)

Present worth= $90,000(6.144567)

Present worth= $553,011.04

Present worth=$553,000 (Approximately)

Therefore the present worth of maintaining the smokestack for 10 years is closest to:$553,000

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