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The maintenance manager at Westinghut must choose a new contract for required services. After collecting bids from three service providers, he finds that the first
The maintenance manager at Westinghut must choose a new contract for required services. After collecting bids from three service providers, he finds that the first bid requires that Westinghut pay a retainer of $9.786 million today, and $2.740 million every year for the next 5 years. If the discount rate is 8.5%, what is the EAC of the first bid?
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