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PLEASE ANSWER THE FOLLOWING QUESTION..,. You are operating an old machine that is expected to...

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Finance

PLEASE ANSWER THE FOLLOWING QUESTION..,.

You are operating an old machine that is expected to produce a cash inflow of $6,600 in each of the next 3 years before it fails. You can replace it now with a new machine that costs $21,600 but is much more efficient and will provide a cash flow of $12,400 a year for 4 years. Calculate the equivalent annual cost of the new machine if the discount rate is 16%

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