3-12. Suppose you have three years to live and you value each year of life at $7 million but have a discount rate of 5%. How much do you value the rest of your life in today's dollars? a. $20 million b. $19.06 million c. $21 million d. $18.14 million

Which of the following is a problem for the production of public goods?

When you hire an independent contractor you don't have to pay the contractors what

Hank itzek manufactures and sells homemade wine, and he wants to develop a standard cost per gallon. the following are required for production of a 70-gallon batch. 2,700 ounces of grape concentrate at $0.04 per ounce 77 pounds of granulated sugar at $0.43 per pound 133 lemons at $0.79 each 350 yeast tablets at $0.24 each 350 nutrient tablets at $0.14 each 2,500 ounces of water at $0.001 per ounce hank estimates that 4% of the grape concentrate is wasted, 9% of the sugar is lost, and 32% of the lemons cannot be used. compute the standard cost of the ingredients for one gallon of wine. (round intermediate calculations and final answer to 2 decimal places, e.g.