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A coal-fired power plant has upgraded an emission control valve. The modification costs only $ 8,000 and is expected to last 6 years with a

A coal-fired power plant has upgraded an emission control valve. The modification costs only $ 8,000

and is expected to last 6 years with a $200 salvage value. The maintenance cost is expected to be high

at $ 1,700 the first year, increasing by 11% per year thereafter. Determine the equivalent present worth

Use the formula.

of the modification and maintenance cost if money is worth 8% per year.

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