Determine its perpetual equivalent annual worth

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Reference no: EM131255198

A road needs to be resurfaced now at a cost of $1,400,000 and it will need to be resurfaced again every seven years forever at a cost of $1,800,000. Determine its perpetual equivalent annual worth (in years 1 through infinity) at an interest rate of 5% per year.

Reference no: EM131255198

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