Answer:
$269,158.88
Explanation:
The computation is shown below:
Before the difference of the amount, first we have to determine the value of the wine after one year which is shown below:
= $2,400,000 + $2,400,000 × 10%
= $2,400,000 + $240,000
= $2,640,000
And, the interest rate is 7%
Plus the additional cost is $360,000
So, the value of the wine now is
= ($2,640,000 - $360,000) ÷ (1 + 0.07)
= $2,130,841.12
So, the difference is
= $2,400,000 - $2,130,841.12
= $269,158.88
