Question: You can continue to use your less efficient old machine with no initial investment and a maintenance cost of $9,160 annually for the next five

You can continue to use your less efficient old machine with no initial investment and a maintenance cost of $9,160 annually for the next five years. Alternatively, you can purchase a more efficient new machine for $12,000 initial investment today, plus $5,000 annual maintenance cost with the same 5 years life. At a cost of capital of 15%, you should:

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