Determine the equivalent annual cost of manufacture

Reference no: EM13236139

Costs associated with the manufacture of "blah" are $73,000 per year. They found that by spending $16,000 now, the cost will go down to $58,000 next year and $52,000 in years 2 through 5. Using an interest rate of 10% per year, determine the equivalent annual cost of manufacture.

Reference no: EM13236139

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