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ABC has two options to rent equipment that are economically equivalent in today's dollars. One option is to spend $9,750 today plus $21,990 at the

ABC has two options to rent equipment that are economically equivalent in today's dollars. One option is to spend $9,750 today plus $21,990 at the end of each year for the next 10 years. The second option is to spend $73,550 today and make annual year end payments of $X for 5 years. If ABC's cost of capital is 6%, what is X?

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