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| Axel Corp. is planning to buy a new machine with the expectation that this investment should earn a discounted rate of return of at least 15%. This machine, which costs $150,000, would yield an estimated net cash flow of $30,000 a year for 10 years, after income taxes. In order to determine the net present value of buying the new machine, Axel should first multiply the $30,000 by which of the following factors? A. 0.247 (Present value of $1). B. 4.046 (Future amount of $1). C. 20.304 (Future amount of an ordinary annuity of $1). D. 5.109 (Present value of an ordinary annuity of $1). |