Question: Glenview industries is considering bulding a a new machine that will save them $1000 in costs at the end of the first year. Thereafter, the

Glenview industries is considering bulding a a new machine that will save them $1000 in costs at the end of the first year. Thereafter, the machine will begin to wear out, so the savings will decline at 2% per year forever. If the opportunity cost is 6% per year, what is the value of the cost savings generated by the new machine?

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