you currently lease scanning equipment at a cost of 1,500 per quarter and two copy machines at $120 each per month. What will you need to budget annually for this leased equipment?
Cost will be (4*1500) + (12*120) = ?
7,440
To determine the annual budget for the leased equipment, we need to calculate the total cost per year for each item and then add them together.
First, let's calculate the cost of leasing the scanning equipment per year:
Since the cost is $1,500 per quarter, we multiply it by 4 (quarters in a year):
$1,500/quarter * 4 quarters/year = $6,000 per year.
Next, let's calculate the cost of leasing two copy machines per year:
Each copy machine costs $120 per month. So, we multiply it by 12 (months in a year) and then multiply it by 2 (as there are two copy machines):
$120/month * 12 months/year * 2 machines = $2,880 per year.
Finally, to determine the total annual budget for the leased equipment, we add the cost of the scanning equipment and the cost of the copy machines together:
$6,000 + $2,880 = $8,880 per year.
Therefore, you will need to budget $8,880 annually for the leased equipment.