A company that manufactures air operated drain valve assemblies currently has $130,000 available to pay for plastic components over a five year period. If the company spent only 48,000 in year one, what uniform annual amount can the company spend in each of the next four years to deplete the entire budget? I equal 12% per year.

A company that manufactures air-operated drain valve assemblies currently has $130,000 available to pay for plastic components over a 5-year period. If the company spent only $48,000 in year 1, what uniform annual amount can the company spend in each of the next 4 years to deplete the entire budget? Let /= 12.00% per year. (Round the final answer to three decimal places.) The uniform annual amount the company can spend is $ 28915.170