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33 A company has a need for a snow removal machine. The machine can be purchased for the cost of $25,000. The machine is expected

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33 A company has a need for a snow removal machine. The machine can be purchased for the cost of $25,000. The machine is expected to have a life of 6 years with no salvage value. The annual operating cost amounts to $5,000. Alternatively, the machine can be rented at the cost of $400 per day .payable at the end of the year a) Determine Net Present Worth for) buying option. Use an interest rate of 20% per (year. (5 points b) Determine the number of days per) year that snow removal is required in order to justify the purchase decision. Use an (interest rate of 20% per year.(10 points c) If the machine was needed for 30) days only every year, should the company BUY or RENT the machine? Justify your (answer(5 points (ili: 20)

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