Solutions Manual for Financial Management for Public, Health, and Not-for-Profit Organizations 7th Edition By Steven Finkler, Thad Calabrese

# 012345637482 15 116 1137456 31

73
74
47341 3712!"
$
$
%&'()*&+%",-+(-'"./0"123435246",43478983:"./0"
;<=625">846:?@"43A"+/:B./0B;0/.2:"&07432C4:2/3D"E:?"FA2:2/3"
$
=G"
% :8H83"123I 680
@")?4A"J4 64=08D 8
@"
KJ/ 9L 68:8"
! M"J? 4
L :80DN
"
$
$
$
$
$




$ $

,


@ABCDEFGHIGJKKLDLMNBOGPQKREDLNRG@MNSECDT1 UVW1



*+,-./0121


3456789*53741
571
:34;4*3;<1
=;4;>?=?451



234567895
8
75 355789




799 7
94496
75
64
53546
8
94496
66
8 3545
89

494 679
799 7
798 6789
66
9
7 84
4 757895
4

4 757895
 4
8 74964
68
 
 7479
64
 7835
85
8
64

8 97
6789

74
7967979

5675 68

799 7
57636789
799 7

94496
49 85545
64
 8
 45
8
 839679
9
799 4




9
 8 746
!
8
8  876!
8 97
67895!
9
394 
79
8
75
68

"77
4
64

46
8
64
8
94 5
8
64
8 97
6789



#
9
37
54 74
8 97
67895!
4 757895
 4
8 74964
68
 

 7479
64
 7835
85
8
64
8 97
6789

74
7967979


5675 68

799 7
57636789



$
% 839679
75

5
564
8
&4479
6 &
8
64
799 7
56635
8
9

8 97
6789
9
64
799 7
45365
8
765
 6776745
6
5
8649
449

44 4
68
5
64
934
8
3579455
4
8 3

354



 839679
75
64
934
8
9893579455
8 97
67895
5

4



'
% 839679
75
53774
7968
6
8
(8
 45)
94 7
 839679


,#


01234(5)6%$%*)
$%&' 37482 $+
1'
5$**,-%.
11)6%/
 0'1$%$/23
1137)4$+
'5$**,-%.
6 3)%/'
1
32+3
$.

7 7424'

47.,'/2%23
341 3$.
71)2%/'
!"
$%5'()%$%*)$+')%(,36$.),%'.7$.'6$%$/234'*$%'-42'.,')683,92'.72'(-.-32'
324-+.4',('.72',3/$%):$.),%0';7)4')%*+-&24'.2*7%)<-24'&24)/%2&'.,'
/2%23$.2'$%5'()%$%*)$+'&$.$'.7$.'6)/7.'72+8'6$%$/234'6$=2'6,32'
2((2*.)92'&2*)4),%40'1$>,3'$482*.4',('6$%$/23)$+'$**,-%.)%/'32+$.2'.,'
6$=)%/'()%$%*)$+'8+$%4'(,3'.72',3/$%):$.),%?')68+262%.)%/'.7,42'8+$%4?'
$%&'.72%'@,3=)%/'.,'2%4-32'.7$.'.72'8+$%4'$32'$*7)292&0'A,62'
2B$68+24',('6$%$/23)$+'$**,-%.)%/')%*+-&2'8328$3)%/'$%%-$+',823$.)%/'
C-&/2.4?'/2%23$.)%/')%(,36$.),%'(,3'-42')%'6$=)%/'6$>,3')%924.62%.'
&2*)4),%4?'$%&'83,9)&)%/'.72'&$.$'%22&2&'.,'&2*)&2'@72.723'.,'C-5'
,3'+2$42'$'6$>,3'8)2*2',('2<-)862%.0'D)%$%*)$+'$**,-%.)%/'83,9)&24'
32.3,482*.)92')%(,36$.),%0'E4'292%.4'.7$.'7$92'()%$%*)$+')68+)*$.),%4'
,**-3'.725'$32'32*,3&2&'C5'.72'()%$%*)$+'$**,-%.)%/'454.260'D3,6'.)62'
.,'.)62'F-4-$++5'6,%.7+5?'<-$3.23+5?',3'$%%-$++5G?'.72'32*,3&2&'&$.$'$32'
4-66$3):2&'$%&'328,3.2&'.,')%.2324.2&'-42340';72'-4234')%*+-&2'C,.7'
)%.23%$+' 6$%$/234' $%&'82,8+2' ,-.4)&2'.72',3/$%):$.),%0' ;7,42'
,-.4)&234')%*+-&2'.7,42'@7,'7$92'+2%.',3'6)/7.'+2%&'6,%25'.,'.72'
,3/$%):$.),%' F*32&).,34G?' .7,42' @7,' 6)/7.' 42++' .7)%/4' .,' .72'
,3/$%):$.),%'F*$++2&'4-88+)234',3' 92%&,34G?'$%&',.723')%.2324.2&'
8$3.)240';7242')%.2324.2&'8$3.)24'6$5')%*+-&2'.7,42'@).7'$'8$3.)*-+$3'
)%.2324.')%'8-C+)*'4239)*2',3/$%):$.),%4?'4-*7'$4'32/-+$.,34?'+2/)4+$.,34?'
$%&'*).):2%40'D)%$%*)$+'328,3.4'83,9)&2')%(,36$.),%',%'.72'()%$%*)$+'
4.$.-4',('.72',3/$%):$.),%'$.'$'482*)()*'8,)%.')%'.)62?'$4'@2++'$4'
328,3.)%/'.72'8$4.'324-+.4',('.72',3/$%):$.),%H4',823$.),%4'F)020?'7,@'@2++'
).'7$4'&,%2'(3,6'$'()%$%*)$+'9)2@8,)%.G0'

, 012345689 42540 534 




!"!#$%&#'($(&!)*$"+)$,!")-$(&',#$("!.'($(&%)*$
&,/"!0")&!1(%!"!#"+,$(&',#$(
23)"!!/%'!.(4*$!!$$.$.%,&5
"66,&6,")$(&',#$("!.)*$.$6+&75$!)&%,$(&',#$(4 )*!)*$
&,/"!0")&!%"++'!.$,)*(*$".!/
8!"..)&!9%!"!#$!-&+-$()*$
%!"!#"+5",:$)(;('#*"(()&#:"!.3&!.5",:$)(<)*")6,&-.$"
5$"!()&/$!$,")!/%'!.(%&,&,/"!0")&!(



=
>$(
?#*$-!/)*$/&"+(&%)*$&,/"!0")&!,$@',$(%!"!#"+
6+"!!!/
!"!#"+5"!"/$5$!)6,&-.$(!%&,5")&!%&,5"!"/$,()&
'($ !5":!/)*$,.$#(&!(
8)*$+6(5"!"/$,(37 6,&-.!/
!%&,5")&!&!)*$+:$+7%!"!#"+56"#)&%$"#*6,&6&($."+)$,!")-$

8)"+(&6,&-.$( !%&,5")&!"3&')%!"!#"+()"3+)79$%%#$!#79"!.
$%%$#)-$!$((



A
B+$",+794$5 /*)$C6$#)(&5$6'3+#($,-#$&,/"!0")&!()*")",$
6,&6,$)",79('#*"((&5$*&(6)"+(9)&$",!6,&%)(
D')4*")"3&')
&)*$,6'3+#($,-#$&,/"!0")&!(('#*"(#*",)$(EF*$7(*&'+.5":$
"6,&%)"(4$++
G,&%)(6,&-.$"("%$)75",/!"/"!()'!$C6$#)$.
#&()(96,&-.$,$(&',#$()&,$6+"#$3'+.!/("!.$@'65$!)9"!.)&
$C6"!."!.56,&-$($,-#$(



H
$.$,"+/&-$,!5$!);($$)$C)/',$
<
IJ 8!.-.'"+ !#&5$)"C$(
IJ K&#"+!(',"!#$ )"C$(
IJ B&,6&,")$!#&5$)"C