Required: 1. Assuming the duck hunting trip Bill has just completed is typical, what costs are relevant to a decision as to whether Bill should go duck hunting again this season? 2. Suppose Bill gets lucky on his next hunting trip and shoots 14 ducks using the same amount of shotgun shells he used on his previous hunting trip to bag 8 ducks. How much would it have cost him to shoot the last six ducks?
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- Bill has just returned from a duck hunting trip. He brought home eight ducks. Bill's friend, John, disapproves of duck hunting, and to discourage Bill from further hunting, John presented him with the following cost estimate per duck: Camper and equipment: Cost, $11,000; usable for eight seasons; 14 hunting trips per season Travel expense (pickup truck): 100 miles at $0.38 per mile (gas, oil, and tires-$8.26 per mile; depreciation and insurance-50.12 per mile) Shotgun shells (two boxes per hunting trip) Boat: Cost, $2,080, usable for eight seasons; 14 hunting trips per season Hunting License: Cost, $40 for the season; 14 hunting trips per season Money lost playing poker: Loss, $36 (Bill plays poker every weekend whether he goes hunting or stays at home) Bottle of whiskey: Cost, $15 per hunting trip (used to ward off the cold) Total cost Cost per duck ($244 + 8 ducks) Complete this question by entering your answers in the tabs below. Camper and equipment Travel expense Shotgun shells…Bill has just returned from a duck hunting trip. He brought home eight ducks. Bill's friend, John, disapproves of duck hunting, and to discourage Bill from further hunting, John presented him with the following cost estimate per duck: Camper and equipment: Cost, $16,000; usable for eight seasons; 14 hunting trips per season Travel expense (pickup truck): 100 miles at $0.32 per mile (gas, oil, and tires-$0.22 per mile; depreciation and insurance -$0.10 per mile) Shotgun shells (two boxes per hunting trip) Boat: Cost, $2,160, usable for eight seasons; 14 hunting trips per season Hunting license: Cost, $80 for the season; 14 hunting trips per season Money lost playing poker: Loss, $36 (Bill plays poker every weekend whether he goes hunting or stays at home) Bottle of whiskey: Cost, $25 per hunting trip (used to ward off the cold) Total cost Cost per duck ($286 + 8 ducks) $ 143 32 25 19 6 36 25 $286 $36 Required: 1. Assuming the duck hunting trip Bill has just completed is typical, what…Bill has just returned from a duck hunting trip. He brought home eight ducks. Bill's friend, John, disapproves of duck hunting, and to discourage Bill from further hunting, John presented him with the following cost estimate per duck: Camper and equipment: Cost, $14,000; usable for eight seasons; 14 hunting trips per season Travel expense (pickup truck): 100 miles at $0.49 per mile (gas, oil, and tires-$0.30 per mile; depreciation and insurance-$0.19 per mile) Shotgun shells (two boxes per hunting trip) Boat: Cost, $2,560, usable for eight seasons; 14 hunting trips per season Hunting license: Cost, $30 for the season; 14 hunting trips per season Money lost playing poker: Loss, $38 (Bill plays poker every weekend whether he goes hunting or stays at home) Bottle of whiskey: Cost, $15 per hunting trip (used to ward off the cold) Total cost Cost per duck ($272 + 8 ducks) Complete this question by entering your answers in the tabs below. Required 1 Required 2 49 20 23 2 38 15 $ 272 $34
- Required: 1. Assuming the duck hunting trip Bill has just completed is typical, what costs are relevant to a decision as to whether Bill should go duck hunting again this season? 2. Suppose Bill gets lucky on his next hunting trip and shoots 14 ducks using the same amount of shotgun shells he used on his previous hunting trip to bag 8 ducks. How much would it have cost him to shoot the last six ducks? Complete this question by entering your answers in the tabs below. Required 1 Required 2 Assuming the duck hunting trip Bill has just completed is typical, what costs are relevant to a decision as to whether Bill should go duck hunting again this season? TotalBill just returned from a duck hunting trip with eight ducks. Bill's friend, John, disapproves of duck hunting, and to discourage Bill from further hunting, John presented him with the following cost estimate per duck: Camper and equipment: Cost, $17,000; usable for eight seasons; 14 hunting trips per season Travel expense (pickup truck): 100 miles at $0.45 per mile (gas, oil, and tires-$0.26 per mile; depreciation and insurance $0.19 per mile) Shotgun shells (two boxes per hunting trip) Boat: Cost, $2,720, usable for eight seasons; 14 hunting trips per season Hunting license: Cost, $30 for the season; 14 hunting trips per season Money lost playing poker: Loss, $38 (Bill plays poker every weekend whether he goes hunting or stays at home) Bottle of whiskey: Cost, $10 per hunting trip (used to ward off the cold) Total cost Cost per duck ($291 ÷ 8 ducks) Complete this question by entering your answers in the tabs below. $ 152 Required 1 Required 2 45 20 24 2 38 Required: 1. Assuming the…Bill just returned from a duck hunting trip with eight ducks. Bill's friend, John, disapproves of duck hunting, and to discourage Bill from further hunting, John presented him with the following cost estimate per duck: Camper and equipment: Cost, $10,000; usable for eight seasons; 14 hunting trips per season Travel expense (pickup truck): $ 89 100 miles at $0.38 per mile (gas, oil, and tires-$0.20 per mile; depreciation and insurance-$0.18 per mile) 38 Shotgun shells (two boxes per hunting trip) 35 Boat: Cost, $2,160, usable for eight seasons; 14 hunting trips per season 19 Hunting license: 5 24 15 $ 225 $ 28 Cost, $70 for the season; 14 hunting trips per season Money lost playing poker: Loss, $24 (Bill plays poker every weekend whether he goes hunting or stays at home) Bottle of whiskey: Cost, $15 per hunting trip (used to ward off the cold) Total cost Cost per duck ($225 +8 ducks) Required: 1. Assuming the duck hunting trip Bill just completed is typical, what costs are relevant to a…
- Bill just returned from a duck hunting trip with eight ducks. Bill's friend, John, disapproves of duck hunting, and to discourage Bill from further hunting, John presented him with the following cost estimate per duck: Camper and equipment: Cost, $20,000; usable for eight seasons; 14 hunting trips per season Travel expense (pickup truck): 100 miles at $0.45 per mile (gas, oil, and tires-$0.28 per mile; depreciation and insurance -$0.17 per mile) Shotgun shells (two boxes per hunting trip) Boat: Cost, $2,320, usable for eight seasons; 14 hunting trips per season Hunting license: Cost, $70 for the season; 14 hunting trips per season Money lost playing poker: Loss, $34 (Bill plays poker every weekend whether he goes hunting or stays at home) Bottle of whiskey: Cost, $10 per hunting trip (used to ward off the cold) Total cost Cost per duck ($329 ÷ 8 ducks) Required: $ 179 55 45 35 21: in 34 10 $ 329 $ 41 1. Assuming the duck hunting trip Bill just completed is typical, what costs are…s Bill just returned from a duck hunting trip with eight ducks. Bill's friend, John, disapproves of duck hunting, and to discourage Bill from further hunting, John presented him with the following cost estimate per duck Camper and equipment: Cost, $18,000; usable for eight seasons; 14 hunting trips per season travel expense (pickup truck) 100 miles at 50.44 per mile (gas, oil, and tires-58.25 per sile; depreciation and insurance -10.18 per aile) Shotgun shells (two boxes per hunting trip) Soat: Required 1 Required 2 Cest, 32,640, usable for eight seasons; 14 hunting trips per season Hunting license: Cost, $48 for the season; 14 hunting trips per season Money lost playing poker Loss, $38 (8111 plays poker every weekend whether he goes hunting or stays at home) Bottle of whiskey: Cost, $25 per hunting trip (used to ward off the cold) Total cost Cost per duck (5325-a ducks) Required: 1. Assuming the duck hunting trip Bill just completed is typical, what costs are relevant to a decision as…Bill has just returned from a duck hunting trip. He has brought home eight ducks. Bill’s friend, John, disapproves of duck hunting, and to discourage Bill from further hunting, John has presented him with the following cost estimate per duck: 1. Assuming that the duck hunting trip Bill has just completed is typical, what costs are relevant to a decision as to whether Bill should go duck hunting again this season?2. Suppose that Bill gets lucky on his next hunting trip and shoots 10 ducks in the amount of time it took him to shoot 8 ducks on his last trip. How much would it have cost him to shoot the last two ducks if costs are estimated per duck? Explain.3. Which costs are relevant in a decision of whether Bill should give up hunting? Explain.
- The Johnson Company pays $1700 a month to a trucker to haul wastepaper and cardboard to the city dump. The material could be recycled if the company were to buy a $48,000 hydraulic press baler and spend $21,000 a year for labor to operate the baler. The baler has an estimated useful life of 15 years and no salvage value. Strapping material would cost $1500 per year for the estimated 600 bales a year that would be produced. A wastepaper company will pick up the bales at the plant and pay Johnson $27 per bale for them. Use an annual cash flow analysis and an interest rate of 8% to recommend whether it is economical to install and operate the baler.A local waste management company needs to purchase a new garbage truck. The company has two truck models under consideration. The purchase price for Model A is $90, 000. The maintenance and operation costs are $10,000/year. Model B is less expensive to acquire ($60,000 at purchase), but costs more on operation and maintenance. Details of the costs are shown in the table below. Interest rate is 4%. Please help this company to decide which truck they should purchase. Year Model A Truck Model B Truck Purchase Price (beginning of year) $90,000 $60,000 Annual Operation and Maintenance (end of year) 1 $10,000 $20,000 2 $10,000 $20,000 3 $10,000 $20,000 4 $10,000 $20,000 Calculate the present values of total costs for Model A Truck and Model B Truck, respectively. (Interest rate: 4%) *Results round to the nearest 2 decimal places. (Note: you may consider using an Excel…Five fishermen live in a village and have no other employment or income earning possibilities besides fishing. They each own a boat that is suitable for fishing, but does not have any resale value. Fish are worth $5 per pound and the marginal cost of operating the boat is $500 per month. They all fish in a river next to the village, and they have determined that when there are more of them out there on the river fishing, they each catch less fish per month according to the following schedule: Boats Fish Caught per Boat (pounds) 200 190 175 155 5 130 Assume that the fishermen band together and act as a group. With 3 boats total, they will jointly make $ operation cost. Joint profit will be $ Hint: Do not use thousands separators. 1 2 3 4 +5 revenue and pay $ This will be equally divided among 5 fishermen, each will get $