Question: A local county government is considering purchasing some dump trucks for trash pickups. Each truck will cost $55,000 and have an operating and maintenance cost

A local county government is considering purchasing some dump trucks for trash pickups. Each truck will cost $55,000 and have an operating and maintenance cost that starts at $18,000 the first year and increases by $3,000 per year thereafter. Assume a salvage value of $12,000 at the end of 5 years and the interest rate is 10%. What is the equivalent uniform annual cost of owning and operating each truck?

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