Problem
Kelsey Construction has purchased a crane that comes with a 3-year warranty. Repair costs are expected to average $3500 per year beginning in Year 4 when the warranty expires. Determine the present worth of the crane's repair costs over its 15-year life. The interest rate is 10%.
The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.