Consider an asset that you purchase for $55,000. Its nominal resale value after four years of ownership is $15,000. At that time you plan to sell it and move to a retirement community in Colorado Springs, CO. What is the levelized cost of holding the asset for the four year period?

Consider an asset that you purchase for $55,000. Its nominal resale value after four years of ownership is $15,000. At that time you plan to sell it and move to a retirement community in Colorado Springs, CO. What is the levelized cost of holding the asset for the four year period if the (1.04)4 04 annuity factor for four years at 4% is 3.6298