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A precision lathe costs $11,500 and will cost $27.500 a year to operate and maintain. If the discount rate is 19% and the lathe will

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A precision lathe costs $11,500 and will cost $27.500 a year to operate and maintain. If the discount rate is 19% and the lathe will last for 6 years, what is the equivalent annual cost of the tool? (Enter your answer os positive value. Round your answer to the nearest cent.) The equivalent annual cost 5

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