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Machinery costs $1 million today and $100,000 per year to operate. It lasts for 8 years. What is the equivalent annual annuity if the discount

Machinery costs $1 million today and $100,000 per year to operate. It lasts for 8 years. What is the equivalent annual annuity if the discount rate is 5%? Enter your answer in dollars and round to the cent.

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