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A construction engineer purchases a motor grader for $120,000. The grader will be used for 5yrs...

A construction engineer purchases a motor grader for $120,000. The grader will be used for 5yrs and sold for $25,000. Maintenance will be $1,000 the first year with an added $1,000 in costs every subsequent year (gradient). If an interest rate of 6% interest is used. What is the Equivalent Uniform Annual Cost (EUAC) of the tractor?

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