A coal-fired power plant has upgraded an emission control valve. The modification costs only $10,000 and is expected to last 6 years. The maintenance cost is expected to be high at $1000 the first...

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Extracted text: A coal-fired power plant has upgraded an emission control valve. The modification costs only $10,000 and is expected to last 6 years. The maintenance cost is expected to be high at $1000 the first year, increasing by 11% per year thereafter. Determine the equivalent present worth of the modification and maintenance cost by hand at 11% per year. OTotal $ 1K $ 1K(1.11) $ 1K(1.11)2 $ 1K(1.11)3 $ 10K $ 1K(1.11)4 $ 1K(1.11)5 Answer: POTotal = $ Blank 1