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A company purchased some equipment at a very favorable price of $35,000. The equipment resulted in...

  1. A company purchased some equipment at a very favorable price of $35,000. The equipment resulted in an annual net saving of $2000 per year during the 8 years it was used. At the end of 8 years, the equipment was sold for $45,000. Assuming interest at 8%, did the equipment purchase prove to be desirable? Calculate EUAW to answer the question.
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Please refer to below spreadsheet for calculation and answer. Cell reference also provided.

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