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35. A machine at a cost of $5,000 was purchased 3 year ago. It can be sold now for $3,000. If the machine is kept
35. A machine at a cost of $5,000 was purchased 3 year ago. It can be sold now for $3,000. If the machine is kept the annual operating and maintenance costs will be $1,500. If it is kept and operated for the next five years, determine the amount at time 0 (now) equivalent to the cost of owning and operating the machine for the next five-year period. It is anticipated that the machine can be sold for $1,000 at end of the five-year period. Use an interest rate of 10%
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