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You are evaluating two oil pumps with the same operating costs. The first pump lasts three years and costs $12,000. The second one lasts four

You are evaluating two oil pumps with the same operating costs. The first pump lasts three years and costs $12,000. The second one lasts four years and costs $15,000. Your company's MARR is 8%. UseLeast Common Multipleto answer the questions provided.

What is the Net Present Value of the pump you will choose?

Hint: Lower cost is better

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