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A company is considering expanding their production capabilities with a new machine that costs $56,000 and has a projected lifespan of 8 years. They estimate

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A company is considering expanding their production capabilities with a new machine that costs $56,000 and has a projected lifespan of 8 years. They estimate the increased production will provide a constant $7,000 per year of additional income. Money can earn 1.5% per year, compounded continuously. Should the company buy the machine? Select an answer over the life of the machine

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