A certain machine has a first cost of $10,000, a life of 10…
A certain machine has a first cost of $10,000, a life of 10 years, an operating cost of $5,000 per year, and a salvage value of $2,000. At an interest rate of 10% per year, the present worth is what value? Select the closest answer. Note: Assume costs are negative cash flows and salvage value is a positive cash flow.