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Question 1 (based on Chapter 9) A new machine will cost $250,000. The expected market value of the machine at the end of each year, and the annual maintenance costs are given in the table below. Assuming 11% cost of capital, what is the economic life of the machine? Clearly answer the question. (Hint: construct a table similar to Example 9-4 in the textbook.) Year Market Annual Value at Maintenance the End Cost 0 1 250,000 223,000 200,000 27,000 27,000 2 3 180,000 28,000 4 162,000 30,000 34,000 5 6 145,000 132,000 122,000 42,000 7 58,000 8 113,000 90,000 Question 1 (based on Chapter 9) A new machine will cost $250,000. The expected market value of the machine at the end of each year, and the annual maintenance costs are given in the table below. Assuming 11% cost of capital, what is the economic life of the machine? Clearly answer the question. (Hint: construct a table similar to Example 9-4 in the textbook.) Year Market Annual Value at Maintenance the End Cost 0 1 250,000 223,000 200,000 27,000 27,000 2 3 180,000 28,000 4 162,000 30,000 34,000 5 6 145,000 132,000 122,000 42,000 7 58,000 8 113,000 90,000