The following cost and benefit information has been estimated for a pump that has a 10-year useful life. Purchase Cost = $2,400 Annual Operating Cost = $1,200 Annual Maintenance Cost = $300 Annual Benefits = $2,000 Salvage Value = $200 Interest rate specified = 9% or 0.09 Find the capital recovery cost for this pump.

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Chapter1: Making Economics Decisions
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The following cost and benefit information has been estimated for a pump that has a 10-year useful life. 

Purchase Cost = $2,400 
Annual Operating Cost = $1,200 
Annual Maintenance Cost = $300
Annual Benefits = $2,000
Salvage Value = $200
Interest rate specified = 9% or 0.09

Find the capital recovery cost for this pump.

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