Question: Problem 8-32 Equivalent Annual Cost (L04) A precision lathe costs $11,600 and will cost $28,000 a year to operate and maintain. If the discount rate

Problem 8-32 Equivalent Annual Cost (L04) A precision lathe costs $11,600

Problem 8-32 Equivalent Annual Cost (L04) A precision lathe costs $11,600 and will cost $28,000 a year to operate and maintain. If the discount rate is 10% and the lathe will last for 4 years, what is the equivalent annual cost of the tool? (Enter your answer as positive value. Round your answer to the nearest cent.) The equivalent annual cost $ ces

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