The initial cost of a pickup truck is 11338 and will have a, Ask an Expert

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The initial cost of a pickup truck is $11338 and will have a salvage value of $3830 after five years. Maintenance is estimated to be a uniform gradient amount of $194 per year, with zero dollar for first year maintenance. The operation cost is estimated to be $0.21 per mile for 261 miles per month. If the interest rate is 12%, what is the annual equivalent cost (AEC) for the truck?

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Financial Management, Finance

Category:- Financial Management
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