A manufacturing company is in need of 1,000 square meters of floor space for 3 years. The company is considering purchasing land for $80,000 and erecting a temporary metal building on the land at a cost of $700 per square meter. At the end of the 3 year period, the company expects to sell the land for $90,000 and the building for $120,000. Alternately, the company can lease floor space for $15 per square meter per month payable at the beginning f the watch year. If the company's minimum attractive rate of return is 18% per year, determine the present value of the cost to develop the land and the building.

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04-10-2022
Engineering

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A manufacturing company is in need of 1,000 square meters of floor space for 3 years. The company is considering purchasing land for $80,000 and erecting a temporary metal building on the land at a cost of $700 per square meter. At the end of the 3 year period, the company expects to sell the land for $90,000 and the building for $120,000. Alternately, the company can lease floor space for $15 per square meter per month payable at the beginning f the watch year. If the company's minimum attractive rate of return is 18% per year, determine the present value of the cost to develop the land and the building.

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