Average interest rate is 5.20% (for question 17)

Use the following information to answer questions 17 through XX Harvesters can trade for a new combine for a cost of $400,000, including the value of their old combine as a trade-in. The expected salvage value of the combine after 8 years is $120,000 and their average interest rate stays the same as previously calculatear 16. What is the average value of the combine over the eight-year period? (1 point) 17. How much is the average annual interest costs ($) that should be included in calculating ownership costs? (1 point) 18. What is the average annual depreciation of the combine over the eight-year period using the straight line method? (1 point) 19. What are the average annual insurance and tax costs assuming that together they are one percent of the average value of the combine? (1 point) 20. What is the total average ownership cost per year over the next eight years? (1 point) Use the following information to answer questions 17 through XX Harvesters can trade for a new combine for a cost of $400,000, including the value of their old combine as a trade-in. The expected salvage value of the combine after 8 years is $120,000 and their average interest rate stays the same as previously calculatear 16. What is the average value of the combine over the eight-year period? (1 point) 17. How much is the average annual interest costs ($) that should be included in calculating ownership costs? (1 point) 18. What is the average annual depreciation of the combine over the eight-year period using the straight line method? (1 point) 19. What are the average annual insurance and tax costs assuming that together they are one percent of the average value of the combine? (1 point) 20. What is the total average ownership cost per year over the next eight years? (1 point)