Maurice Tutor

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    Argosy University/ Phoniex University/
    Nov-2005 - Oct-2011

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    Phoniex University
    Oct-2001 - Nov-2016

Category > Accounting Posted 18 Aug 2017 My Price 6.00

postage stamps

Consider a project to supply 116 million postage stamps per year to the U.S. Postal Service for the next five years. You have an idle parcel of land available that cost $2,060,000 five years ago; if the land were sold today, it would net you $2,260,000 aftertax. The land can be sold for $2,460,000 after TAXES in five years. You will need to install $5.56 million in new manufacturing plant and equipment to actually produce the stamps; this plant and equipment will be depreciated straight-line to zero over the projectAc€?cs five-year life. The equipment can be sold for $660,000 at the end of the project. You will also need $760,000 in initial net working capital for the project, and an additional investment of $66,000 in every year thereafter. Your production costs are 0.66 cents per stamp, and you have fixed costs of $1,040,000 per year. If your TAX rate is 35 percent and your required return on this project is 11 percent, what bid price should you submit on the contract?

Please explain your answer. Thanks

Answers

Maurice Tutor
(5)
Status NEW Posted 18 Aug 2017 10:08 PM My Price 6.00

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