Answer:
Federal agencies' financial information for a comparable time period.
Explanation:
Benchmarking can be regarded as management accounting innovation, which is been utilized in both the private and the public sectors for performance measurement as management. There are alot of success reported by public sector accounting researchers with the use of benchmarking, however there is
charged problems that still exist in implementing as well as using this management technique. The appropriate benchmarks for a state or local government to use as a basis for comparing performance are;
✓Socioeconomic and demographic trends of governments of similar types and size available from U.S. Census Bureau.
✓ A government's own operating results and financial position from prior years.
✓ International City/County Management Association's Financial Trend Monitoring System results for governments of similar types and size.
Answer:
$50.74 million
Explanation:
Interest rate per annum = 8%
Number of years = 17
Number of compounding per annum = 1
Interest rate per period (r) = 8%/1 = 8%
Number of period (n) =17 * 1 = 17
Growth rate (g) = 5%
First payment (P) = 4 ($'million)
PV of the new Chip = p/(r-g) * [1 - [(1+g)/(1+r)]^n]
PV of the new Chip = 4/(8%-5%) * [1 - [(1+5%)/(1+8%)]^17]
PV of the new Chip = 4/0.03 * [1 - [1.05/1.08]^17]
PV of the new Chip = 4/0.03 * [1 - 0.972222^17]
PV of the new Chip = 133.333 * (1 - 0.6194589804)
PV of the new Chip = 133.333 * 0.3805410196
PV of the new Chip = 50.7386757663268
PV of the new Chip = $50.74 million
Machinery repairs, property taxes, salaries for workers variable: number of workers, what crop is being produced, gas for machinery.
