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A polisher costs $8,000 and will cost $15,000 a year to operate and maintain. If the discount rate is 12 percent and the polisher will

A polisher costs $8,000 and will cost $15,000 a year to operate and maintain. If the discount rate is 12 percent and the polisher will last for 5 years, what is the equivalent annual cost of the tool?

Multiple Choice

$12,638
$16,374
$62,072
$32,638

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