(Answered) Question - a machine costing 30000 to buy and 2750 per year

Accounting

Question - A machine costing $30,000 to buy and $2,750 per year to operate will save mainly labor expenses in packaging over eight years. The anticipated salvage value of the machine at the end of eight years is $2,500.

If a 9% return on investment (rate of return) is desired, what is the minimum required annual savings in labor from this machine?

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