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Plastic trays last 8 years and cost 20 . Metal trays last 24 years and cost X. Trays are needed for 48 years, and inflation

Plastic trays last 8 years and cost 20 . Metal trays last 24 years and cost X. Trays are needed for 48 years, and inflation will increase the cost of the trays 5% per year. At 10.25% interest, determine X so that the buyer is indifferent to purchasing plastic or metal trays. (Adapt Note: Assume that payments start at time o.) 36.90 38.70 40.70 42.70 44.80

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