Question: How do I find this solution? Coronado Excavating Inc. is purchasing a bulldozer. The equipment has a price of $95,100. The manufacturer has offered a

How do I find this solution?

Coronado Excavating Inc. is purchasing a bulldozer. The equipment has a price of $95,100. The manufacturer has offered a payment plan that would allow Coronado to make11equal annual payments of $13,321.27, with the first payment due one year after the purchase.

Coronado could borrow $95,100from its bank to finance the purchase at an annual rate of7%

Should Coronado borrow from the bank or use the manufacturer's payment plan to pay for the equipment?

Manufacturer's rate

Borrow from the Bank or Use Manufacturer's Payment Plan

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