Holding period and annual (investment) returns. Bohenick Classic Automobiles restores and rebuilds old classic cars. Today at auction, the car sold for $69,300.00. What are the holding period returm and the annual return on this investment? The company purchased and restored a classic 1957 Thunderbird convertible 7 years ago for $7,700.00. What is the holding period return of the car? % (Round to two decimal places.)

Principles of Accounting Volume 1
19th Edition
ISBN:9781947172685
Author:OpenStax
Publisher:OpenStax
Chapter11: Long-term Assets
Section: Chapter Questions
Problem 8PA: Referring to PA7 where Kenzie Company purchased a 3-D printer for $450,000, consider how the...
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Holding period and annual (investment) returns. Bohenick Classic Automobiles restores and rebuilds old classic cars.
Today at auction, the car sold for $69,300.00. What are the holding period retun and the annual return on this investment?
The company purchased and restored a classic 1957 Thunderbird convertible 7 years ago for $7,700.00.
What is the holding period return of the car?
|% (Round to two decimal places)
Transcribed Image Text:Question Help Holding period and annual (investment) returns. Bohenick Classic Automobiles restores and rebuilds old classic cars. Today at auction, the car sold for $69,300.00. What are the holding period retun and the annual return on this investment? The company purchased and restored a classic 1957 Thunderbird convertible 7 years ago for $7,700.00. What is the holding period return of the car? |% (Round to two decimal places)
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