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Nippon Steel’s expenses for heating and cooling a large manufacturing facility are expected to increase according...

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Finance

Nippon Steel’s expenses for heating and cooling a largemanufacturing facility are expected to increase according to anarithmetic gradient beginning in year 2. If the cost is $550,000this year (year 0) and will be $550,000 again in year 1, but thenit is estimated to increase by $41,000 each year through year 12,what is the equivalent annual worth in years 1 to 12 of theseenergy costs at an interest rate of 11% per year? The equivalentannual worth is determined to be?

help with excel formulas to answer this question would be great,thanks.

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