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1. A firm is considering the replacement of a machine, whose cost price is Rs 12,200 and its scrap value is Rs 200. From experience

1. A firm is considering the replacement of a machine, whose cost price is Rs 12,200 and its scrap value is Rs 200. From experience the running (maintenance and operating) costs are found to be as follows:

Year12345678Running Cost2005008001,2001,8002,5003,2004,000

When should the machine be replaced?

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