INSTRUCTIONS: Help me answer the given question. Do not round off answer when solving, instead just the final answer will be rounded off to two decimal places
2. White Oaks Properties builds strip shopping centers and small malls. The company plans to replace its refrigeration, cooking, and HVAC equipment with newer models in one entire center built 10 years ago. 10 years ago, the original purchase price of the equipment was $700,000 and the operating cost has averaged $220,000 per year. Determine the equivalent annual cost of the equipment if the company can now sell it for $204,000. The company’s MARR is 21% per year.
The equivalent annual cost of the equipment, (in $)
Round off to the nearest two (2) decimal places, include sign
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