What is the equivalent uniform cost per semiannual period

Reference no: EM13314237

Heyden Motion Solutions ordered $7 million worth of seamless tubes for its drill collars from the Timken Company of Canton, Ohio. (A drill collar is heavy tubular connection between a drill pipe and a drill bit.) At 12% per year, compounded semiannually, what is the equivalent uniform cost per semiannual period over a 5-year amortization period?

Reference no: EM13314237

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