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A certain index for the cost of purchasing and installing utility boilers is keyed to 1988, where its baseline value was arbitrarily set at 100. Company XYZ installed a 50,000-lb/hour boiler for $414,287 in 2000 when the index had a value of 468. This same company must install another boiler of the same size in 2010. The index in 2010 is 542. What is the approximate cost of the new boiler?

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Business Economics, Economics

Category:- Business Economics
Reference No.:- M91922704

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