A machine costs $270,000 and has a life of 12 years. The machine will be under total warranty for 3 years. In the 4th year the maintenance cost is estimated to be $3,500, and increases by $1,750 each year till the 12th year. What amount will the company have to put aside at 6% interest per annum compounded yearly for the maintenance? a. Around $36,200b. Around $45,800c. Around $56,100d. Around $65,300
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