A machine costs Rs. 20000 and its useful life is 8 years. The money is borrowed at 8% interest per annum. The capital recovery factor at 8% interest per annum for 8 years is 0.174. The annual equipment cost of the machine will be________?
ARs.6960
BRs.1740
CRs.3480
DRs.5220
Correct answer
C. Rs.3480
Explanation
The correct answer is Rs.3480.