Question: A machine costs $20,000 and has a 5-year useful life. At the end of the 5 years, it can be sold for $4000. If annual

A machine costs $20,000 and has a 5-year useful life. At the end of the 5 years, it can be sold for $4000. If annual interest is 8%, compounded semiannually, what is the equivalent uniform annual cost of the machine? (An exact solution is expected.)

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