Engineering Economy 7th Edition by Leland Blank ,Anthony Tarquin

Exercise 47

Heyden Motion Solutions ordered $7 million worth of seamless tubes for its drill collars from the Timken Company of Canton, Ohio. (A drill collar is the heavy tubular connection between a drill pipe and a drill bit.) At 12% per year, compounded semiannually, what is the equivalent uniform cost per semiannual period over a 5-year amortization period