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Labor is expected to increase by 5 and the interest rate is

A device is available that will reduced the annual labor cost by $8,000 the first year. The equipment is expected to last for 10 years. Labor is expected to increase by 5% and the interest rate is 10%. What is the maximum amount you could spend on the device?

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Business Economics: Labor is expected to increase by 5 and the interest rate is

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