A security company offers to provide CCTV coverage for a parking garage for ten years for an initial payment of $50,000 and additional payments of $30,000 per year. What is the equivalent annual annuity of this deal, given a cost of capital of 5%?
A) -$21,885
B) -$25,533
C) -$29,180
D) -$36,475
Correct Answer:
Verified
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