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The energy costs for operating the pumping system at a water treatment plant were $1.4 million per year for the first 3 years of its
The energy costs for operating the pumping system at a water treatment plant were $1.4 million per year for the first 3 years of its operation. The cost rose to $1.43 million the following year (Year 4), then continued to increase another $30,000 each year through Year 15. What is the equivalent present worth of these energy costs (at Time 0) at an interest rate of 6% per year?
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