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Question: please show all steps and provide solutions to the 2nd...

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Please show all steps and provide solutions to the 2nd decimal place

A real estate developer wants to develop a commercial building lot. The marketing people investigate the area and determine a need for both a retail facility and a supermarket. A construction manager and the operation personnel come up with the following projections Size in square feet Cost per square foot Total Cost Economic Life Projected yearly income Required loan amount Retail Facility 95,000 $64.45 $6.12 million 20 years $1 million 150,000 Supermarket 20,000 $62.20 $1.24 million 15 years $320,000 50,000 The developer evaluates project using an interest rate of 15 percent as a measure of the cost of capital. Which project should she pursue?
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