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A construction company can purchase a piece of equipment for $50000 and spend $100 per day in operating costs The equipment will have a 5year life with no salvage value Alternatively the company

A construction company can purchase a piece of equipment for $50,000 and spend $100 per day in operating costs. The equipment will have a 5-year life with no salvage value. Alternatively, the company can lease the equipment for $400 per day. The number of days per year the company must require the equipment to justify its purchase at an interest rate of 8% per year is closest to: (a) 10 days (b) 42 days (c) 51 days (d) 68 days
 

May 01 2020 View more View Less

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