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KT's Corporation is saving up for a new manufacturing facility in 3 years. The estimated cost of the facility is $500,000. If the sinking fund

KT's Corporation is saving up for a new manufacturing facility in 3 years. The estimated cost of the facility is $500,000. If the sinking fund earns an interest rate of 6% per year, how much should the company contribute annually to the sinking fund?

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