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Title: Shrimp Galore, a shrimp harvesting business in the Pacific Northwest, has a 30-year loan on its shrimp harvesting boat.

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Q:

Shrimp Galore, a shrimp harvesting business in the Pacific Northwest, has a 30-year loan on its shrimp harvesting boat. The annual loan payment is $25,000 and the boat has a market (salvage) value that exceeds its outstanding loan balance. Prior to the 2001 shrimp harvesting season, Shrimp Galore’s accountant predicted that at expected market prices for shrimp, Shrimp Galore would have a net loss of $75,000 dollars after paying all 2001 expenses (including the annual loan payment). In this case, Shrimp Galore should

           a.   produce nothing and experience a loss of $25,000.

           b.   produce nothing and experience a loss of $75,000.

           c.    continue to operate because expected profits will rise in the future.

           d.   continue to operate even though it predicts a loss of $75,000.


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Title: Shrimp Galore, a shrimp harvesting business in the Pacific Northwest, has a 30-year loan on its shrimp harvesting boat.

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    • Posted Date: Apr 28, 2012 at 9:19:48 PM

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A:
...sp;        a.   produce nothing and experience a loss of $25,000. &nb...
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