A coal-fired power plant has upgraded an emission control valve. The modification costs only $10,000 and is expected to last 8 years. The maintenance cost is expected to be high at $1000 the first...

Extracted text: A coal-fired power plant has upgraded an emission control valve. The modification costs only $10,000 and is expected to last 8 years. The maintenance cost is expected to be high at $1000 the first year, increasing by 12% per year thereafter. Determine the equivalent present worth of the modification and maintenance cost by hand at 12% per year. Answer: POTotal = $ Blank 1