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Your car remaining age is 4 years. Because of its age, your car costs $11,500 annually in maintenance expense. You could replace it with a

Your car remaining age is 4 years. Because of its age, your car costs $11,500 annually in maintenance expense.  You could replace it with a newer vehicle costing $10,700 that would be expected to have a life of 6 years.  If your opportunity cost of capital is 9%, by how much must maintenance expense decrease on the new vehicle to justify its purchase?

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