Question: 8. ABC Breads uses specialized ovens to bake its bread. One oven costs $180,000 and lasts about seven years before it needs to be replaced.

8. ABC Breads uses specialized ovens to bake its bread. One oven costs $180,000 and lasts about seven years before it needs to be replaced. The annual operating cost per oven is $23,800. What is the equivalent annual cost of an oven if the required rate of return is 8 percent? (Don't use a negative sign in your answer)

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