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A company bought a piece of machinery for $15,000 with an annual operating cost of $750. There is no maintenance for the first 2 years,

A company bought a piece of machinery for $15,000 with an annual operating cost of $750. There is no maintenance for the first 2 years, but after that maintenance is $500 per year over the 11 year life span of the machine. In year 7, there is an repair cost of $1500 and the equipment has a salvage value of $800. What is the present value of this piece of machinery?

i=10%

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