The maintenance foreman of a plant in reviewing his records, Business Economics

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The maintenance foreman of a plant in reviewing his records

The maintenance foreman of a plant in reviewing his records found that maintenance cost on a large press had increased with sales of a product that will decline in the future.

5 years ago $600

4 years ago 700

3 years ago 800

2 years ago 900

Last year 1000

He believes that maintenance will be $900 this year and will decrease by $100 yearly for 4 years. What will be the equivalent uniform annual maintenance cost for the 10 year period? Assume interest is 8%.

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