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It was significant because President Taft made Ballinger become the Secretary of the Interior while Pinchot led the Parks Service. But Pinchot thought Ballinger was about to give up conserving new land to make new parks so President Roosevelt became so angry that he couldn't keep setting land aside for new parks, that he decided to run for president again.
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The internal rate of return method is used by Merit Construction Co. in analyzing a capital expenditure proposal that involves an investment of $82,220 and annual net cash flows of$20,000 for each of the six years of its useful life.
a. Identify a present value factor for an annuity of $1, which can be used in determining the internal rate of return.
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