Answered step by step
Verified Expert Solution
Question
1 Approved Answer
A machine costing $1.55 million requires 4 operators at $340 per day. The machine can do the work of 50 labors at $190 per day.
A machine costing $1.55 million requires 4 operators at $340 per day. The machine can do the work of 50 labors at $190 per day. Fuel, oil and maintenance for the machine is $60/day. The life of the machine is six years with no salvage value. If money is worth 7%, how many days of operation per year are necessary to make purchase of the machine economical?
- 29 days
- 34 days
- 40 days
- 42 days
- None of the above
Explanation with calculations would be appreciated. :) Thank you in advance!
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started