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Find the equivalent per-year cost of owning

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Question - A company owns a fleet of trucks and operates its own maintenance shop. A particular type of truck is normally used for five years. The first cost is $32,500 and the end of life salvage value is $7,750. The maintenance costs are $900 for the first year and an additional $250 per year thereafter. Assuming an interest rate of 7.5%, find the equivalent per-year cost of owning and maintaining one of these vehicles.

Reference no: EM132663095

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