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7. (15 Points) You need to purchase a new pump at your factory and can choose between one that is powered by gasoline or one

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7. (15 Points) You need to purchase a new pump at your factory and can choose between one that is powered by gasoline or one powered by electricity. Given the following table of attributes and a 6% interest rate, determine which is the better option based on an annual cash flow analysis. Initial Cost Annual Operating Cost Annual Maintenance Salvage Value Useful Life (yr) Gasoline Pump $2,400 1,200 300 300 5 Electric Pump $9,000 250 50 600 10

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