The initial cost of a pickup truck is 10323 and will have a


The initial cost of a pickup truck is $10323 and will have a salvage value of $3850 after five years. Maintenance is estimated to be a uniform gradient amount of $160 per year, with zero dollar for first year maintenance. The operation cost is estimated to be $0.25 per mile for 179 miles per month. If the interest rate is 12%, what is the annual equivalent cost (AEC) for the truck?

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Business Economics: The initial cost of a pickup truck is 10323 and will have a
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