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The State of Chiapas, Mexico, decided to fund a program for improving reading skills in elementary school students. The first cost is $200,000 now and

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The State of Chiapas, Mexico, decided to fund a program for improving reading skills in elementary school students. The first cost is $200,000 now and an update amount of $110,000 every 5 years forever. Determine the perpetual equivalent annual cost at an interest rate of 8% per year. The perpetual equivalent annual cost is determined to be-$

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