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What is the annual equivalent cost of spending a present value of $62000 every 4 years if the discount rate is 20%?. Discount rates: Yr 1 0.833 Yr 2 0.694 Yr 3 0.579 Yr 4 0.482 Cumulative discount rate for 4 years: 2.588 Annual equivalent cost is $ ________ (To nearest $) |