What is the present-worth cost of the machine

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Reference no: EM131045508

A used machine costs $20,000 to purchase. It has an annual maintenance cost of $20,000, a salvage value of $5,000, and a 10-year life. If the interest rate is 10% per year, compounded annually, what is the present-worth cost of the machine? Please show work using formulas.

Reference no: EM131045508

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