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John's project has a five year term, a first cost, no salvage value and annual savings of $20,000. After doing present worth and annual worth

John's project has a five year term, a first cost, no salvage value and annual savings of $20,000. After doing present worth and annual worth calculations with a 18 % interest rate, John noticed that the calculated annual worth for the project is exactly three times the present worth. What is the project's first cost?

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