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An industrial engineer has estimated that a processing machine will need repairs in years two through five that will cost $ 5 0 , 0

An industrial engineer has estimated that a processing machine will need repairs in years two through five that will cost $50,000.00 per year, but no additional repairs will be required after year five. If the machine is used for 12 years and the interest rate is 7%, what is the equivalent uniform annual cost of the repairs?

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