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Larkspur Excavating Inc. is purchasing a bulldozer. The equipment has a price of $103,600. The manufacturer has offered a payment plan that would allow Larkspur

Larkspur Excavating Inc. is purchasing a bulldozer. The equipment has a price of $103,600. The manufacturer has offered a payment plan that would allow Larkspur to make 8 equal annual payments of $19,419.19, with the first payment due one year after the purchase. How do we find Manufacturer's rate ?

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