Q. A furnace installed at a cost of Rs. 24 Lakh is expected to serve its useful life of 5 years. Salvage value of the furnace is Rs. 8 Lakh. The interest rate compounded annually is 8%. The estimated capitalized cost (in Lakhs of rupees) is
(A) 30 (B) 34.09 (C) 34.9 (D) 58.09
Ans: 58.09