The cost of replacing a high-definition television production line in 6 years is estimated to be $500,000.
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The cost of replacing a high-definition television production line in 6 years is estimated to be $500,000. At an interest rate of 14% per year, compounded semiannually, the uniform amount that must be deposited into a sinking fund every 6 months beginning now is closest to:
(a) <$21,000
(b) $21,335
(c) $24,820
(d) $27,950
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