on january 1, year 1, raven limo service, inc. paid $64,000 cash to purchase a limousine. the limo was expected to have a six year useful life and a $10,000 salvage value. on january 1, year 5 the limo was sold for $30,000 cash. assuming raven uses straight-line depreciation, the company would recognize a:

In december of 2004, the company you own entered into a 20-year contract with a grain supplier for daily deliveries of grain to its hot dog bun manufacturing facility. the contract called for "10,000 pounds of grain" to be delivered to the facility at the price of $100,000 per day. until february 2017, the supplier provided processed grain which could easily be used in your manufacturing process. however, no longer wanting to absorb the cost of having the grain processed, the supplier began delivering whole grain. the supplier is arguing that the contract does not specify the type of grain that would be supplied and that it has not breached the contract. your company is arguing that the supplier has an onsite processing plant and processed grain was implicit to the terms of the contract. over the remaining term of the contract, reshipping and having the grain processed would cost your company approximately $10,000,000, opposed to a cost of around $1,000,000 to the supplier. after speaking with in-house counsel, it was estimated that litigation would cost the company several million dollars and last for years. weighing the costs of litigation, along with possible ambiguity in the contract, what are three options you could take to resolve the dispute? which would be the best option for your business and why?

Afinancing project has an initial cash inflow of $42,000 and cash flows of −$15,600, −$22,200, and −$18,000 for years 1 to 3, respectively. the required rate of return is 13 percent. what is the internal rate of return? should the project be accepted?

You have just made your first $5,500 contribution to your retirement account. assume you earn a return of 10 percent per year and make no additional contributions. a. what will your account be worth when you retire in 45 years? (do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) b. what if you wait 10 years before contributing?