(Solution) - An automatic process controller will eliminate the current manual control -(2025 Original AI-Free Solution)

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An automatic process controller will eliminate the current manual control operation. Annual cost of the current method is $4,000. If the controller has a service life of 13 years and an expected market value of 11% of the first cost, what is the maximum economical price for the controller? Ignore interest.
(a) $28,869
(b) $58,426
(c) $26,358
(d) $25,694
(e) $53,344