Question: A machine costs $900,000 and requires $50,000 maintenance for each year of its three-year life. The maintenance costs are paid at the end of each

 A machine costs $900,000 and requires $50,000 maintenance for each year

A machine costs $900,000 and requires $50,000 maintenance for each year of its three-year life. The maintenance costs are paid at the end of each year. After three years, the machine will be replaced. Assume a tax rate of 34 percent and a discount rate of 14 percent. If the machine is depreciated over three years using the straight line method, with no salvage value, what is the equivalent annual annuity?(2 point)

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