Question: Please DO NOT USE EXCEL TO SOLVE A land development company is considering the purchase of earth moving equipment. The equipment will have a first

Please DO NOT USE EXCEL TO SOLVE

A land development company is considering the purchase of earth moving equipment. The equipment will have a first cost of $190,000 and a salvage value of $70,000 when the company sells it in 10 years. A service contract for maintenance on the equipment will cost $40,0000 per year. The operating cost is expected to be $260 per day. Alternatively, the company can rent the necessary equipment for $1100 per day and hire a driver for $180 per day. If the company's MARR is 10% per year how many days per year must the company need the equipment in order to justify its purchase?

Please DO NOT USE EXCEL TO SOLVE

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