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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 $41,000 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 $41,000 per year for 4 years or buy it for $91,000 with $21,000 yearly maintanence cost. If the company decides to buy the plant, it will be able to sell it for $31,000 at the end of 4 years. a. Calculate the equivalent annual cost of buying and maintaining the plant for 4 years. Assume that the discount rate is 10%. (Do not round intermediate calculations. Round your answer to 2 decimal places.) Equivalent annual cost b. Which option is better for Marshall Boya? Buy Lease

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