A salt mine you inherited will pay you $25,000 per year for 25 years, with the first payment being made today. If you think a fair return on the mine is 7.5%, how much should you ask for it if you decide to sell it?
A. $284,595
B. $299,574
C. $314,553
D. $330,281
E. $346,795
Answer: B
Business
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