A machine with an eight-year life and $5000 salvage is purchased for $40,000. Annual costs of operation are $800. The machine operator is paid $12.90 per hour. Power is consumed by the machine at the...

A machine with an eight-year life and $5000 salvage is purchased for $40,000. Annual costs of operation are $800. The machine operator is paid $12.90 per hour. Power is consumed by the machine at the rate of $2.15 per hour, 2000 units are produced each year on the machine, which requires 48 minutes per unit. Use a 10% interest rate to find the unit cost.