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A company buys a color printer that will cost $17,000 to buy, and last 5 years. It is assumed that it will require servicing costing

A company buys a color printer that will cost $17,000 to buy, and last 5 years. It is assumed that it will require servicing costing $900 each year. What is the equivalent annual annuity of this deal, given a cost of capital of 11%?

A. -$4,400

B. -$5,500

C. -$4,950

D. -$3,850

Correct answer is -$5,500, how? Show work on excel.

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