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10 points Problem 8-33 Equivalent Annual Annuity (LO5) A firm can lease a truck for 3 years at a cost of $48,000 annually. It
10 points Problem 8-33 Equivalent Annual Annuity (LO5) A firm can lease a truck for 3 years at a cost of $48,000 annually. It can instead buy a truck at a cost of $98,000, with annual maintenance expenses of $28,000. The truck will be sold at the end of 3 years for $38,000. a. What is the equivalent annual cost of buying and maintaining the truck if the discount rate is 10%? Note: Do not round intermediate calculations. Round your answer to 2 decimal places. 00 Answer is complete but not entirely correct. Equivalent annual cost $ 67.41 b. Which is the better option? Buy Lease
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