How much june should be budgeted for equipment, Financial Accounting

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How much june should be budgeted for equipment

Problem

A surveying company has ordered new equipment that will arrive in the next fiscal year. A new item costs $8,000 and has a useful life of 7 years. Maintenance costs for equipment are as per the following table. How much June should be budgeted for equipment and maintenance costs if the interest rate ad 5% compounded annually?

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