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Jackson & Sons uses packing machines to prepare its product for shipping. One machine costs $125,214 and lasts about 4 years before it needs replaced.

Jackson & Sons uses packing machines to prepare its product for shipping. One machine costs $125,214 and lasts about 4 years before it needs replaced. The after-tax operating cost per machine is $5,108 a year.

What is the equivalent annual cost of one packing machine if the required rate of return is 10.7%? (Round answer to 2 decimal places)

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