Question: A new wave-soldering machine is expected to save Burnaby Circuit Boards $16,000 per year through reduced labour costs and increased quality. The device will

A new wave-soldering machine is expected to save Burnaby Circuit Boards $16,000

A new wave-soldering machine is expected to save Burnaby Circuit Boards $16,000 per year through reduced labour costs and increased quality. The device will have a life of nine years and will have no salvage value after this time. If the company can generally expect to get 11 percent return on its capital, how much could it afford to pay for the wave-soldering machine? Click the icon to view the table of compound interest factors for discrete compounding periods when i = 11%. Burnaby Circuit Boards could afford to pay $ . (Round to the nearest dollar as needed.)

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