Problem
A new hydraulic lift will cost $125213. At the end of its 9 years of useful life, the machine can be sold for $39492. The new machine will reduce annual expenses by $21717. The interest rate is 3% compounded annually. What is the present worth for this investment?
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.