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A construction company can purchase a used backhoe for exist90,000 and spend exist450 per day in operating costs. The equipment will have a 5-year life
A construction company can purchase a used backhoe for exist90,000 and spend exist450 per day in operating costs. The equipment will have a 5-year life with no salvage value. Alternatively, the company can lease the equipment for exist800 per day. How many days per year must the company use the equipment in order to justify its purchase at an interest rate of 8% per year
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