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A construction firm needs a new small loader. It can be purchased for $20,000. The firm...

A construction firm needs a new small loader. It can be purchased for $20,000. The firm expects the loader to have a salvage value of $7,000 after 7 years. The maintenance cost will be $1,400 each year. The firm's interest rate is 3.0% per year. Compute the Equivalent Uniform Annual Cost (EUAC).

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