for managing costs. 8-23 Life-cycle cost calculation Suppose you want to buy a new copier for your business. The pur- Ao chase price is $2,500; delivery and setup will cost an additional $75. You plan to purchase the copier with your store credit card, which has an interest rate of 3.5% per month, and you expect to pay one month's interest. Estimated costs over the useful life of the copier include $1,000 for supplies, $300 for electricity, and $450 for maintenance and service. Finally, at the end of the copier's useful life, you will need to pay $100 for removal of the copier. Required Compute your expected life-cycle cost of the copier. (L01)

8.23 Life-cycle cost calculation Suppose you want to buy a new copier for your business. The purchase price is $2,500; delivery and setup will cost an additional $75. You plan to purchase the copier with your store credit card, which has an interest rate of 3.5% per month, and you expect to pay one month's interest. Estimated costs over the useful life of the copier include $1,000 for supplies, $300 for electricity, and $450 for maintenance and service. Finally, at the end of the copier's useful life, you will need to pay $100 for removal of the copier. Required Compute your expected life-cycle cost of the copier