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Question 3 (10 points) Border Steel invested $800,000 in a new shearing unit. At an interest rate of 20% per year compounded quarterly, the quarterly

Question 3 (10 points) Border Steel invested $800,000 in a new shearing unit. At an interest rate of 20% per year compounded quarterly, the quarterly income required to recover the investment in 4 years is closest to: O $82,370 O $75,880 O $80,370 o$73,816

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