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An oil company is planning to extend a pipeline. The initial cost is $1500, and annual maintenance is expected to be $400. Costs of operating

An oil company is planning to extend a pipeline. The initial cost is $1500, and annual maintenance is expected to be $400. Costs of operating the pump are estimated to be $1500 per year. At an interest rate of 8%, what most nearly is the total capitalized cost of the pipeline extension?

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