Current revenue of the racquets = 3000 * $ 240 = $ 720,000
The revenue of the racquet is expected to grow by 1% each year.
The present value of expected sales revenue is found using the present value of the growing annuity equation.
Present value =$720,000X [tex]\left[\begin{array}{ccc}1/0.06-0.01-1/0.06-0.01*(1+0.01/1+0.06)50\end{array}\right][/tex]
Present value of expected sales revenue = $ 13,114,305.
A recent study found that to be in the top 1% of income earners in the United States, you need to earn at least $597,815 a year. That means 99% of earners in the rest of the US earn less than that annually. According to Forbes, to be in the top 1% of U.S. household wealth, you need to be worth at least $10,374,030.10. According to Credit Suisse's 2019 Global Wealth Report, it takes at least about $936,430 to be in the top 1% of the world.
Learn more about The current price here:-https://brainly.com/question/26989284
#SPJ4
