If closing costs of $1,400 are associated with the refinance of a mortgage that would reduce the monthly payment from $980 to $870 refinance, it would take approximately ___ months to cover these costs.

You are considering the purchase of one of two machines used in your manufacturing plant. machine 1 has a life of two years, costs $20,000 initially, and then $4,000 per year in maintenance costs. machine 2 costs $25,000 initially, has a life of three years, and requires $3,500 in annual maintenance costs. either machine must be replaced at the end of its life with an equivalent machine. using eac which is the better machine for the firm