TransITRI is a transportation company with a recent need of a new construction equipment at a first cost of $78,000 (Equation (1)), zero salvage value, and a cash flow before taxes (CFBT) per year t...

1. TransITRI is a transportation company with a recent need of a new construction equipment at a first cost of $78,000 (Equation (1)), zero salvage value, and a cash flow before taxes (CFBT) per year
   t
   that follows Equation (2).

                                            CFBT = $30,000 – 3,000t
(for
t
= 1, 2, …
T)                                       (1)

                                            CFBT = - $78,000 (for
t
=0)                                                                  (2)

Calculate the PW if the economic life of similar machinery is 8 years, while the MARR is 12%