How much money should the company set aside now to purchase

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Green Power Company is considering acquiring a new machine that will last 11 years and it can be purchased right now for 135159 dollars; maintenance will cost 35435 dollars the first year, increasing by 5007 dollars per year thereafter. If the interest rate is 7% per year, compounded annually, how much money should the company set aside now to purchase and provide for the future maintenance of this machine ?

Reference no: EM13566445

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