CopyCentral provides commercial photocopying services. This profit-maximizing firm purchases copy machines that each have a lifespan of
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CopyCentral provides commercial photocopying services. This profit-maximizing firm purchases copy machines that each have a lifespan of three years, after which they have no value. A machine generates MRPs of $9000 per year for each of those three years. At each of the following annual interest rates, determine the maximum price this firm should be willing to pay for a copy machine.
a. 2 percent
b. 3 percent
c. 6 percent
d. 10 percent
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