Problem
A new piece of construction equipment will need an overhaul at the end of year 8 in a 15-year life. The overhaul will cost $80,000, and i = 12%. What does the overhaul add to the total annual cost for owning the equipment?
The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.