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Practice Questions
Test your understanding with targeted questions related to the topic.
Question 1
Easy
Define investment cost.
💡 Hint: Think about what costs are involved in purchasing machinery.
Question 2
Easy
What is the typical range for insurance costs?
💡 Hint: Remember, insurance is a percentage of the asset's value.
Practice 4 more questions and get performance evaluation
Interactive Quizzes
Engage in quick quizzes to reinforce what you've learned and check your comprehension.
Question 1
What is the primary factor in determining investment cost?
- Value of the Equipment
- Interest Rate
- Depreciation
💡 Hint: Consider how loans influence costs.
Question 2
True or False: Storage costs are only applicable when the equipment is in use.
- True
- False
💡 Hint: Reflect on how storage operates in machinery management.
Solve and get performance evaluation
Challenge Problems
Push your limits with challenges.
Question 1
A machine valued at $50,000 incurs an investment cost of 8%. Additionally, the insurance cost is set at 1.5%, and property taxes at 3%. If storage is 0.8%, calculate the total ownership cost.
💡 Hint: Consider calculating each component individually and then summing them up.
Question 2
Discuss how neglecting the storage costs can affect the estimated ownership cost over a year, especially for a construction firm.
💡 Hint: Think about how many days equipment needs to be stored and secured.
Challenge and get performance evaluation