A machine X costs Rs 5,000. Its maintenance cost is Rs 1,000 in each of the first

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A machine X costs Rs 5,000. Its maintenance cost is Rs 1,000 in each of the first four years and then it increases by Rs 200 every year. Assuming that the machine has no salvage value and the maintenance cost is incurred in the beginning of each year, determine the optimal replacement time for the machine assuming that the time value of money is 10% p.a.

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