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A furnace installed at a cost of Rs. 24 Lakh is expected to serve its useful life of 5 years. Salvage value of the furnace

A furnace installed at a cost of Rs. 24 Lakh is expected to serve its useful life of 5 years. Salvage value of the furnace is Rs. 8 Lakh. The interest rate compounded annually is 8%. Estimate the capitalized cost (in lakhs of Rupees)

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