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In: AccountingA lcompany is trying to upgrade its current equipements, whichhas an initial fee of $30,000....A lcompany is trying to upgrade its current equipements, whichhas an initial fee of $30,000. The upgrade is expected to save them$5,000 in year 1 and increase by $500 each year thereafter. At aninterest rate of 15% per year, what is the annual worth of thepurchase over 7 years?
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