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Julio Company is considering the purchase of a new bubble packaging machine. If the machine will provide $30,000 annual savings for 8 years and can

Julio Company is considering the purchase of a new bubble packaging machine. If the machine will provide $30,000 annual savings for 8 years and can be sold for $20,000 at the end of the period, what is the present value of the machine investment at a 6% interest rate with savings realized at year end?

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