Subject: Engineering Economics

Need Step by step solution within 30 minutes.

Question #2: 2) Your company purchases a new CNC machine for $100,000 today (beginning Year 0). In 8 years it will have a salvage value of $29,000, and it produces 8,000 parts per year. The machine will require O & M costs of $41,000 every year. If i = 12% annual rate compounded annually, what is the total cost per part