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A firm can lease a truck for 8 years at a cost of $35,000 annually. It can instead buy a truck at a cost of

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A firm can lease a truck for 8 years at a cost of $35,000 annually. It can instead buy a truck at a cost of $82,000, with annual maintenance expenses of $8,000. The truck will be sold at the end of 8 years for $30,000. The discount rate is 3.6%. Which is the effective annual annuity (EAA) of buying the truck? ($35,000.00) ($114,155.84) ($16,676.39) ($21,679.31)

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