Question: Please, give me A complete answer. 7 What is the equivalent annual cost in years 1 through 8 of a contract that has a first

Please, give me A complete answer.

7 What is the equivalent annual cost in years 1 through 8 of a contract that has a first cost of $78,000 in year 0 and annual costs of $19,000 in years 3 through 8? Use an interest rate of 9% per year. The equivalent annual cost is determined to be $ 8899082

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