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If the interest rate is 8%, what is the Equivalent Annual Cost (EAC) of the following machine: Cost: $8,000 Life: 8 years Annual cost to

If the interest rate is 8%, what is the Equivalent Annual Cost (EAC) of the following machine: Cost: $8,000 Life: 8 years Annual cost to operate: $4,000 Answer to 2 decimal places, for example 970.12

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