Question: 5 Problem 8-33 Equivalent Annual Annuity (LO5) 10 points A firm can lease a truck for 4 years at a cost of $47.000 annually. It

5 Problem 8-33 Equivalent Annual Annuity (LO5) 10 points A firm

5 Problem 8-33 Equivalent Annual Annuity (LO5) 10 points A firm can lease a truck for 4 years at a cost of $47.000 annually. It can instead buy a truck at a cost of $97.000, with annual maintenance expenses of $27,000. The truck will be sold at the end of 4 years for $37.000. a. What is the equivalent annual cost of buying and maintaining the truck if the discount rate is 10%? (Do not round intermediate calculations. Round your answer to 2 decimal places.) eBook Equivalent annual cost Hint Print b. Which is the better option? References Buy O Lease

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