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Marshall Boya needs a new plant for its new business line. The company has two options: lease the plant at a cost of $39,000 per

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Marshall Boya needs a new plant for its new business line. The company has two options: lease the plant at a cost of $39,000 per year for 5 years or buy it for $89,000 with $19,000 yearly maintanence cost. If the company decides to buy the plant, it will be able to self it for $29,000 at the end of 5 years. a. Calculate the equivalent annual cost of buying and maintaining the plant for 5 years. Assume that the discount rate is 12%. (Do not round intermediate calculations. Round your answer to 2 decimal places.) b. Which option is better for Marshall Boya? Buy Lease

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