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What is the equivalent annual cost in years 1 through 10 of a contract that has a first cost of $69,000 in year 0 and
What is the equivalent annual cost in years 1 through 10 of a contract that has a first cost of $69,000 in year 0 and annual costs of $18,000 in years 3 through 10? Use an interest rate of 11% per year.
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