What is equivalent annual cost

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Reference no: EM131503458

Air conditioning for a college dormitory will cost $1.9 million to install and $180,000 per year to operate. The system should last 21 years. The real cost of capital is 9%, and the college pays no taxes. What is the equivalent annual cost? (Do not round intermediate calculations. Round your answer to 2 decimal places.)

Equivalent annual cost $

Reference no: EM131503458

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