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A building owner is trying to reduce the annual cost of fire insurance by $750. installing an automatic (water) sprinkler with a useful life of
A building owner is trying to reduce the annual cost of fire insurance by $750. installing an automatic (water) sprinkler with a useful life of 15 years with no residual value. What is the most the owner should pay for the sprinkler if the money is borrowed at 8% interest?
a $5,950.29
b. $6,682.50
c.$6,199.32
d.$6,419.61
e.$5,687.98
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