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Maintenance money for a new building has been sought. Mr. Kendall would like to make a donation to cover all future expected maintenance cost for the building. These maintenance costs are expected to be $50,000 each year for the first 5 years and $70,000 each year after that. The building has an indefinite service life. How much should be put into a account that will pay 11% interest to pay the maintenance over its infinite life?

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Financial Management, Finance

Category:- Financial Management
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