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Question: A firm purchased some equipment at a very favorable price of $30,000. The equipment reduced costs by $1000 per year during 8 years of use. After 8 years, the equipment was sold for $40,000. Assuming interest at 9%, did the equipment purchase prove to be desirable? The response must be typed, single spaced, must be in times new roman font (size 12) and must follow the APA format.

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