Question: A precision lathe costs $ 1 5 , 0 0 0 upfront and will cost $ 2 2 , 0 0 0 a year to

A precision lathe costs $15,000 upfront and will cost $22,000 a year to operate and maintain. If the discount rate is 10% and the lathe will last for six years, what is the equivalent annual cost of the tool?
Question 6 options:
$27,815.74
$22,637.98
$23,765.34
$25,444.11

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