1. Consider a palletizer at a bottling plant that has an initial cost of $150,000, operating and maintenance costs of $17,500 per year, and an estimated net salvage value of $25,000 at the end of thirty years. Assume an interest rate of 8%. What is the annual equivalent cost of the investment if the planning horizon is thirty years? (a) $29,760 (b) $31,050 (c) $30,600 (d) $35,130