A company is considering buying a CNC machine. In today’s dollars, it is estimated that the maintenance costs for the machine (paid at the end of each year) will be $25,000, $26,000, $28,000, $30,000,...

A company is considering buying a CNC
machine. In today’s dollars, it is estimated that the
maintenance costs for the machine (paid at the end
of each year) will be $25,000, $26,000, $28,000,
$30,000, and $32,000 for years 1 to 5, respectively.
The general inflation rate ( f ) is estimated to be
5% per year, and the company will receive 13%
return (interest) per year on its invested funds during the inflationary period. The company wants to
pay for maintenance expenses in equivalent equal
payments (in actual dollars) at the end of each of
the five years. Find the amount of the company’s
payments