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[Please show how to solve WITHOUT Excel. The real test will not allow anything other than a Financial (or BA2plus) calculator] A firm is must

[Please show how to solve WITHOUT Excel. The real test will not allow anything other than a Financial (or BA2plus) calculator]

A firm is must choose to buy the GSU-3300 or the UGA-3000. Both machines make the firms production process more efficient which in turn increases incremental cash flows. The GSU-3300 produces incremental cash flows of $26,183.00 per year for 8 years and costs $101,933.00. The UGA-3000 produces incremental cash flows of $28,360.00 per year for 9 years and cost $123,330.00. The firms WACC is 8.81%. What is the equivalent annual annuity of the GSU-3300? Assume that there are no taxes.

Round to 3 decimal places.

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