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What is the equivalent annual cost in years

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    Assignment Help >> Business Management

    What is the equivalent annual cost in years 1 through 9 of a contract that has a first cost of $66,000 in year 0 and annual costs of $19,000 in years 3 through 9? Use an interest rate of 14% per year.

    The equivalent annual cost is determined to be $

    My answer is 81,697.09 but I ‘m not sure if it is correct using p/a and p/f forumlas

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    Asked by: Anonymous
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