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EMGT 523 ABC construction just purchased a new track hoe attachment costing $12,500. The CFO expects the attachment will be used for 5 years at

EMGT 523

ABC construction just purchased a new track hoe attachment costing $12,500. The CFO expects the attachment will be used for 5 years at which time its salvage value is estimated to be $4000. Maintenance costs are estimated at $0 for the first year, increasing by $100 each year thereafter. If a 12% interest rate is used, what is the equivalent uniform annual cost of the implement?

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