# Tanks to hold a corrosive chemical are now made of material A, have an 8 year...

###### Question:

Tanks to hold a corrosive chemical are now made of material A, have an 8 year life, and an initial cost of $30K. When the tanks are 4 years old, they must be relined at a cost of$10K. If the tanks were made of material B, their life would be 20 years and no relining is necessary If the minimum rate of return is 10%, what must be the first cost of a tank made from material B to make it economically equivalent to the material A tanks?

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