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A type of shingle with a twenty-year life costs $21 per square. If money is worth 4.7%, how much should we be willing to spend

A type of shingle with a twenty-year life costs $21 per square. If money is worth 4.7%, how much should we be willing to spend for shingles which have a twenty-five-year life?

Answer is = 23.86

please show your work.

please do not use excel.

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