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The annual cost of a certain service is $43,000 at EOY 1 which decreases by 7.5% per year for a period of 12 years. If
The annual cost of a certain service is $43,000 at EOY 1 which decreases by 7.5% per year for a period of 12 years. If the interest rate is 7.5% per year, what is the present equivalent of the annual cost at the beginning of year 1?
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