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7.22 A machine with a 4-year life is purchased for $12,000. The annual year-end operating cost is $6,000. At the end of four years, the machine is sold for $2,000. The cash outflows each year can be represented as follows: C0 C1 C2 C3 C4. $12,000 $6,000 $6,000 $6,000 $4,000. The cost of capital is 6 percent. Ignore taxes. ................
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