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The Cook County Authority is considering the purchase of a small plane to transport government officials. It is hoped that the plane will save money

The Cook County Authority is considering the purchase of a small plane to transport government officials. It is hoped that the plane will save money on travel costs for government employees. Assume the county requires an 8 percent rate of return.
Using the present value tables in Exhibits 26-3 and 26-4, If the planes cost is $306,840 and it can likely be sold in six years for $100,000, what minimum annual savings in transportation costs are needed to make the plane a good investment?
Note: Round Present value factor to 3 decimal places. Round final answer to the nearest whole dollar.

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