Major overhaul expenses of $5,000 each are anticipated for a large piece of earthmovingequipment. The expenses will occur at EOY four and will continue every three yearsthereafter up to and including...

Major overhaul expenses of $5,000 each are anticipated for a large piece of earthmoving

equipment. The expenses will occur at EOY four and will continue every three years

thereafter up to and including year 13. The interest rate is 12% per year.