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Problem #6-22 The maintenance foreman of a plant in reviewing his records found that maintenance costs on a large press had increased with sales of

Problem #6-22

The maintenance foreman of a plant in reviewing his records found that maintenance costs on a large press had increased with sales of a product that will decline in the future.

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He believes that maintenance will be $950 this year and will decrease by $50 yearly for 4 years. What will be the equivalent uniform annual maintenance cost for the 9-year period? Assume interest at 7%.

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