A short-haul trucking company purchased a used dump truck for $12,000. The company paid $5,000 down and financed the balance at an interest rate of 10% per year for five years. The amount of its annual payment is nearest to:

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Which of the following statements about the relationship between economic costs and accounting costs is true? multiple choice accounting costs are equal to or greater than economic costs. accounting costs must always equal economic costs. accounting costs are always greater than economic costs. accounting costs are always less than or equal to economic costs.

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