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What is the equivalent annual cost of the machine

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Problem 1: Office Furniture Makers, Inc. uses machines to produce high quality office chairs for other firms. The initial cost of one customized machine is $750,000. This machine costs $12,000 a year to operate. Each machine has a life of 3 years before it is replaced. What is the equivalent annual cost of this machine if the required return is 10 percent? ( Round your answer to whole dollars).

Reference no: EM132797309

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