Question: A security company offers to provide CCTV coverage for a parking garage for ten years for an initial payment of $45,000 and additional payments

A security company offers to provide CCTV coverage for a parking garage

A security company offers to provide CCTV coverage for a parking garage for ten years for an initial payment of $45,000 and additional payments of $20,000 per year. What is the equivalent annual annuity of this deal, given a cost of capital of 9%?

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