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A security company offers to provide CCTV coverage for a parking garage for ten years for an initial payment of $40,000 and additional payments of

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A security company offers to provide CCTV coverage for a parking garage for ten years for an initial payment of $40,000 and additional payments of $25,000 per year. What is the equivalent annual annuity of this deal, given a cost of capital of 7%? A. $30,695 B. $21,487 C. $18,417

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