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Disney Casting is introducing a new process for its production. However, because of training and installation,...

Disney Casting is introducing a new process for its production. However, because of training and installation, savings are not expected to occur until the third year of operation. At that time, savings of $50,000 are expected (t=3), increasing by $10,000 per year for the following 7 years (t=4 to t=10). At the end of the 10th year, the process will be abandoned with no scrap value. Calculate the Present Worth of the savings, at 6% annual interest rate.

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