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8. The present worth of an operating contract that has a cost of $40000 in year 1 and annual increase of 5% per year for

8. The present worth of an operating contract that has a cost of $40000 in year 1 and annual increase of 5% per year for 10 years with an interest rate of 5% per year is equal to : a. $51670.83 b. $93420 c. $270.24.81 d. $ 380,952.38

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