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Find the equivalent annual cost of the tool

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Question: A precision lathe costs $13,000 and will cost $23,000 a year to operate and maintain. If the discount rate is 13% and the lathe will last for 5 years, what is the equivalent annual cost of the tool? The response must be typed, single spaced, must be in times new roman font (size 12) and must follow the APA format.

Reference no: EM132047984

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