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Crane Corp. is purchasing new equipment with a cash cost of $303,000 for an assembly line. The manufacturer has offered to accept $67,500 payments at
Crane Corp. is purchasing new equipment with a cash cost of $303,000 for an assembly line. The manufacturer has offered to accept $67,500 payments at the end of each of the next 6 years. What is the total amount of interest that will Crane Corp. pay over the term of the loan?
$67,500
$102,000
$303,000
$405,000
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