Problem
Lifters, Inc., purchases a mobile crane. The purchase price delivered is $863,000. Tires for this machine cost $60,000. The company believes it can sell the crane after 10 yr (1,500 hr/yr) of service for $240,000. There will he no major overhauls. The company's cost of capital is 3.9%. What is the depreciation part of this machines ownership cost? Use the time-value method to calculate depreciation.
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.