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You estimate that a copier for your office will cost $14400 to buy today and then $500 each year for 8 years to maintain (after
You estimate that a copier for your office will cost $14400 to buy today and then $500 each year for 8 years to maintain (after 8 years your copier will be worthless and you will need to buy a new one). If your discount rate is 7.7%, what is the equivalent annual cost (EAC) of buying the copier?
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