An industrial robot with a controller, teach pendants, and job-specific peripherals has an initial cost of $85,000 now, and the future cost will increase exactly by the inflation rate. The cost of a similar robot 3 years from now at a market interest rate of 10% per year and inflation rate of 4% per year is closest to: (choose one)
(a) $95,610
(b) $102,414
(c) $125,931
(d ) $127,261
Cost = 85,000(F/P,4%,3)
= 85,000(1.12486)
= $95,613
Answer is (a) $95,610
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