A forklift will last for only 2 more years. It costs $5,600 a year to maintain. For $22,000 you can buy a new lift that can last for 10 years and should require maintenance costs of only $2,600 a year.
a) Calculate the equivalent cost of owning and operating if the discount rate is 5% per year?
b) Calculate the equivalent cost of owning and operating if the discount rate is 15% per year?
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