Well-managed companies set aside funds to pay for emergencies that inevitably arise in the course of doing business. A commercial solid waste recycling and disposal company has placed 1% of its after-tax income into such a fund for 5 years. The market rate of return averages 12% per year and the inflation rate is 5% per year.
NOTE: This is a multi-part question. Once an answer is submitted, you will be unable to return to this part.
What is the purchasing power in CV dollars of the accumulated amount if the after-tax income averages $19 million per year?
The purchasing power in CV dollars of the accumulated amount if the aftertax income averages $19 million per year is $ . (Enter your answer in dollars and not in millions of dollars.)