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A machine is expected to produce a net inflow of $ 4 , 0 0 0 this year and $ 4 , 0 0 0

A machine is expected to produce a net inflow of $4,000 this year and $4,000 next year before breaking. You can replace it now with a machine that costs $15,000 and will produce an inflow of $8,000 per year for 3 years. Should you replace now or wait a year? (Without the use of Excel. Need Formula and writing step by step for understanding)

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