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A company is considering expanding their production capabilities with a new machine that costs $37,000 and has a projected lifespan of 8 years. They estimate

image text in transcribed A company is considering expanding their production capabilities with a new machine that costs $37,000 and has a projected lifespan of 8 years. They estimate the increased production will provide a constant $5,000 per year of additional income. Money can earn 1.6% per year, compounded continuously. Should the company buy the machine? 1$overthe life of the machine

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