balances for the first five years of Acme’s investment in PHC. What is the maximum Acme can
pay for PHC if it wishes to earn at least a 10 percent average return on beginning investment balance?
(Hint: Under Excel’s Tools menu, use the Solver or Goal Seek capability to produce a 10 percent
average return on beginning investment balance by changing the cell that contains Acme’s cost
of investment in PHC. Excel’s Solver should produce an exact answer while Goal Seek should
produce a close approximation. You may need to first add in the Solver capability under Excel’s Tools menu.)
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