Business, 30.03.2020 21:29 cnolasco3675

O'Mally Department Stores is considering two possible expansion plans. One proposal involves opening 5 stores in Indiana at the cost of $1,890,000. Under the other proposal, the company would focus on Kentucky and open 6 stores at a cost of $2,900,000 .The following information is available: Indiana proposal Kentucky proposal Required investment $1,890,000 $2,900,000 Estimated life 5 years 5 years Estimated residual value $80,000 $70,000 Estimated annual cash inflows over the next 9 years $700,000 $800,000 Required rate of return 13% 13% The payback period for the Kentucky proposal is closest to

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