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A new pump is needed to serve a micro-hydropower facility. You buy a pump that has a lifetime of 6 years. The purchasing cost is

A new pump is needed to serve a micro-hydropower facility. You buy a pump that has a lifetime of 6 years. The purchasing cost is $10,000, operations and maintenance cost is $300 per year, and the salvage value is $3,000. What is the present value of this investment if the annual interest rate is 4%.

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