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The University has just invested $ 9,327 in a new desktop publishing system. From past experience, annual cash returns are estimated as A(t)s $8000-$4000(1 +0.15)t-1

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The University has just invested $ 9,327 in a new desktop publishing system. From past experience, annual cash returns are estimated as A(t)s $8000-$4000(1 +0.15)t-1 s() $6000(1 -0.4)t where A(t) stands for the net cash flow in period t and S(t) stands for the salvage value at the end of year t, andt 21 If the MARR is 12%, compute the annual equivalent cost in year 2

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