What is the hourly cost of this equipment

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A contractor has purchased a piece of equipment for $150,000 and expects to use it 1,000 hrs per year for 10 years. The salvage value is $8,000 after 10 years. A single major repair of $20,000 is expected at the end of the 5th year.

With an interest rate of 6% what is the hourly cost of this equipment?

Reference no: EM131016222

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