The TerraMax truck currently being manufactured by Oshkosh Truck Co. is a driverless truck that is intended for military use. Such a truck frees personnel to more effectively perform non-driving tasks, such as reading maps, scanning for roadside explosives, or scouting for the enemy. If such trucks can result in reduced injuries to military personnel amounting to $15 million 3 years from now, determine the present worth of these benefits at an interest rate 10% per year, compounded semiannually.
What will be an ideal response?
P = 15,000,000(P/F,5%,6)
= 15,000,000(0.7462)
= $11,193,000
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