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A precision lathe costs $26,000 and will cost $36,000 a year to operate and maintain. If the discount rate is 10% and the lathe will

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A precision lathe costs $26,000 and will cost $36,000 a year to operate and maintain. If the discount rate is 10% and the lathe will last for 5 years, what is the equivalent annual cost of the tool? (Do not round intermediate calculations, Round your answer to 2 decimal places. Enter your answer as a positive value.) Equivalent annual cost

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