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You have two options for purchasing new copier, COPY1 and COPY2. COPY1 initially costs $7,000 and provides a net cash flow (= revenue cost) of

You have two options for purchasing new copier, COPY1 and COPY2. COPY1 initially costs $7,000 and provides a net cash flow (= revenue cost) of $1,500 per year for next 8 years. COPY2 initially costs $9,000 and provides a net cash flow of $1,800 per year for next 9 years. Determine which copier you should choose and explain why. Assume a discount rate of 10%.

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