Homework Answers
Annual Income = Annual Revenues - Annual Expenses
Annual Income = $64,015 - $41,200
Annual Income = $22,815
Average Investment = (Initial Investment + Residual Value) /
2
Average Investment = ($271,000 + $80,000) / 2
Average Investment = $175,500
Annual Rate of Return = Annual Income / Average Investment
Annual Rate of Return = $22,815 / $175,500
Annual Rate of Return = 0.13 or 13.00%
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$60,640, with annual expenses (including depreciation) of $39,400.
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At the end of 15 years the salon will have a salvage value of
$79,000.
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Annual rate of return
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