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A polisher has an initial cost of $35,000 and will cost $15,000 per year to operate and maintain. If the cost of capital is 7%

A polisher has an initial cost of $35,000 and will cost $15,000 per year to operate and maintain. If the cost of capital is 7% and the polisher will last for 8 years, what is the equivalent annual cost?

Group of answer choices

$23,871.65

$15,571.18

$9,368.46

$20,861.37

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