Determine the present worth of the cranes repair costs

Reference no: EM13207210

A construction company has purchased a crate that comes with a 3-year warranty. Repair costs are expected to average $3500 per year beginning in year 4 when the warranty expires. Determine the present worth of the crane's repair costs over its 15-year life. The interest rate is 10%.

Reference no: EM13207210

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