Jim is preparing a budget for his rally racing team,Olinda Racing,after recently confirming two major sponsorship agreements for the next two years with a large Canadian publishing company and with a local tourist attraction.The plan is to compete in each of the six events in the Canadian championship over the next two years.Jim estimates that he currently has $50,000 invested in his rally car "Zuke" and in the tools and equipment the team owns.Before the new season starts,his estimate is that car upgrade costs of $5,000 are required.The six races run from February to November so Jim has assumed cash flows otherwise occur evenly throughout the years as follows:

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The Answer of Jim is preparing a budget for his rally racing team,Olinda Racing,after recently confirming two major sponsorship agreements for the next two years with a large Canadian publishing company and with a local tourist attraction.The plan is to compete in each of the six events in the Canadian championship over the next two years.Jim estimates that he currently has $50,000 invested in his rally car "Zuke" and in the tools and equipment the team owns.Before the new season starts,his estimate is that car upgrade costs of $5,000 are required.The six races run from February to November so Jim has assumed cash flows otherwise occur evenly throughout the years as follows:

Jim Is Preparing a Budget for His Rally Racing Team,Olinda