What is the annual equivalent of cost

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Ten years ago, Jacobson Recovery purchased a wrecker for $290,000 to move disabled 18-wheelers. He anticipated a salvage value of $30,000 after 10 years. If the annual M&O cost was $25,000 the first year and increased by a constant $1000 per year what is the annual equivalent of cost at 12% per year?

Reference no: EM13929847

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