Required information Eight years ago. Ohio Valley Trucking purchased a large-capacity dump truck for $116,000 to provide short-haul earth-moving services. The company sold it today for $45,000. Operating and maintenance costs averaged $10,900 per year. A complete overhaul at the end of year 3 costs an extra $3600. Calculate the annual cost of the truck at /= 8% per year. The annual cost of the truck is $- per year.
Required information Eight years ago. Ohio Valley Trucking purchased a large-capacity dump truck for $116,000 to provide short-haul earth-moving services. The company sold it today for $45,000. Operating and maintenance costs averaged $10,900 per year. A complete overhaul at the end of year 3 costs an extra $3600. Calculate the annual cost of the truck at /= 8% per year. The annual cost of the truck is $- per year.
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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![Required information
Eight years ago. Ohio Valley Trucking purchased a large-capacity dump
truck for $116,000 to provide short-haul earth-moving services. The
company sold it today for $45,000. Operating and maintenance costs
averaged $10,900 per year. A complete overhaul at the end of year 3
costs an extra $3600.
Calculate the annual cost of the truck at /= 8% per year.
The annual cost of the truck is $-
per year.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F25a2b4a8-e907-4911-8dfe-888de2cb6b91%2F88e9a058-b966-45ad-8422-5bf17d8cf22a%2Fhs7owxq_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Required information
Eight years ago. Ohio Valley Trucking purchased a large-capacity dump
truck for $116,000 to provide short-haul earth-moving services. The
company sold it today for $45,000. Operating and maintenance costs
averaged $10,900 per year. A complete overhaul at the end of year 3
costs an extra $3600.
Calculate the annual cost of the truck at /= 8% per year.
The annual cost of the truck is $-
per year.
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