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What is the equivalent annual cost in years 1 through 11.00 of a contract that has a first cost of$66,000 in year 0 and annual
What is the equivalent annual cost in years 1 through 11.00 of a contract that has a first cost of$66,000 in year 0 and annual costs of $17,000 in years 3 through 11.00? Use an interest rate of10.00% per year.(Round the final answer to three decimal places.)
The equivalent annual cost is determined to be $
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