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ABC construction Inc. is considering whether to purchase a Caterpillar backhoe or not. The cost of the backhoe is $47,410, the annual net benefit is

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ABC construction Inc. is considering whether to purchase a Caterpillar backhoe or not. The cost of the backhoe is $47,410, the annual net benefit is $3,109, the company can sell the backhoe for $22,349 after 8 years. Given the company's MARR is 5%, what is the NPV of the backhoe

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