The operating and maintenance expenses for a mining machine are expected to be ($ 11,000) in the

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The operating and maintenance expenses for a mining machine are expected to be $\$ 11,000$ in the first year and increase by $\$ 800$ per year during the 15 year life of the machine. What uniform series of payments would cover these expenses over the life of the machine? Interest is 10 percent/year compounded annually.

a. $\$ 11,000$

b. $\$ 4,223$

c. $\$ 13,423$

d. $\$ 15,223$

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