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Your town is building a new well for drinking water. The initial cost of the well is $850,000 and annual operation and maintenance costs are

Your town is building a new well for drinking water. The initial cost of the well is $850,000 and annual operation and maintenance costs are anticipated to be $20,000 per year. If your town assumes an interest rate of 4% for long term planning purposes, what is the total cost of the project? (assume infinite timeframe)

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