Calculate the annual worth for the system

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Reference no: EM131094844

Please provide the steps to achieve the solution without using a spreadsheet program.

Lockheed Martin is increasing its booster thrust power in order to win more satellite launch contracts from European companies interested in new global communications markets. A piece of earth-based tracking equipment is expected to require an investment of $13 million. Annual operating costs for the system are expected to start the first year and continue at $0.9 million per year. The useful life of the tracker is 8 years with a salvage value of $0.5 million. Calculate the Annual Worth for the system if the corporate MARR is currently 12% per year.

Reference no: EM131094844

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