(Solved): Required information Ford Motor Company was able to reduce by 67% the cost required for installing ...

Required information Ford Motor Company was able to reduce by $$67\%$$ the cost required for installing data acquisition instrumentation on test vehicles by using MTS-developed spinning wheel force transducers. The cost this year (i.e., end of year 1 ) is expected to be $$\$2800$$. If the costs are expected to increase by $$\$250$$ each year for the next 4 years, what is the equivalent annual worth of the costs (years $$1?5$$ ) at an interest rate of $$7\%$$ per year? The equivalent annual worth is $$\$$$