The maintenance foreman of a plant in reviewing his records found that maintenance cost on a large press had increased with sales of a product that will decline in the future.
5 years ago $600
4 years ago 700
3 years ago 800
2 years ago 900
Last year 1000
He believes that maintenance will be $900 this year and will decrease by $100 yearly for 4 years. What will be the equivalent uniform annual maintenance cost for the 10 year period? Assume interest is 8%.