Spruce Bank Is Planning to Automate Some of Its Back

question 45

Multiple Choice

Spruce Bank is planning to automate some of its back office functions and reduce operating costs.The installation of new computers and software will require an initial investment of $1,000,000.The savings generated because of reduced personnel cost is $200,000 per year.The bank uses an 8 percent rate of discount to evaluate cost saving projects which are expected to last 10 years.

What must be the minimum annual cost savings in order to accept this project? Assume a five-year horizon and 8 percent discount rate.

• A)$200,000.
• B)$222,256.
• C)$250,456.
• D)$279,724.

Identify exceptions to the statute of frauds and the parol evidence rule.

Understand the impact of electronic transactions on traditional concepts of written contracts.

Recognize the enforceability of oral agreements under specific conditions.

Understand the significance of industry standards and practices in interpreting or completing contracts.

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Definitions:

Mesophyll

The inner tissue of a leaf, containing many chloroplasts, where photosynthesis takes place.

Photosynthetic Ground

The base environment or substrate that supports photosynthetic organisms, providing necessary conditions for light absorption and CO2 fixation.

Guard Cells

Specialized cells in the epidermis of plants that regulate gas exchange and water loss by opening and closing the stomata.

Subsidiary Cells

Specialized plant cells located around the stomatal aperture, playing a key role in the opening and closing of the stomata for gas exchange.