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12. (Short answer; 5 pts) You are considering purchasing a dump truck. The truck will cost $75,000 and having operating and maintenance costs that start

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12. (Short answer; 5 pts) You are considering purchasing a dump truck. The truck will cost $75,000 and having operating and maintenance costs that start at $18,000 the first year and increases by $2,000 per year. Assume that the salvage value at the end of five years is $22,000 and interest rate is 12%. what is the equivalent annual cost of owning and operating the truck

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