Question: 1. A new machine will cost $17,000 and will have a resale value of $14,000 after five years. Special tooling will cost $5,000 and will

1. A new machine will cost $17,000 and will have a resale value of $14,000 after five years. Special tooling will cost $5,000 and will have a resale value of $2,500 after five years. Maintenance will be $2,000 per year. If the effective annual interest rate is 6%, then what is the average annual cost of ownership during the five year period?

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