Question

3.34 A recently hired CEO (chief executive officer)wants to reduce future production costs to improve the companys earnings, thereby increasing the value of the companys stock. The plan is to invest $70,000 now and $50,000 in each of the next 2 years to im- uctivity. By how n decrease in years 3 through 10 to recover the invest- ment plus a return of 15% per year?

PLEASE SOLVE BY HAND!

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