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| rev | Admin | (Created page with "You own three oil wells in Vidalia, Texas. They are expected to produce 7,000 barrels next year in total, but production is declining by 6 percent every year after that. Fortunately, you have a contract fixing the selling price at $15 per barrel for the next 12 years. What is the present value of the revenues from the well during the remaining life of the contract? Assume a discount rate of 8 percent. <ul class="mw-excansopts"> <li>608,254</li> <li>647,079</li> <li>672,...") | Dec 4'23 at 18:54 | +815 |