3) Two milling machines are being considered by your company. Machine 1 costs $240,000 new and $25,000 annually to operate and maintain. Machine 2 costs $325,000 new and $15,000 annually to operate and maintain. Assume both will be sold for salvage after 10 years at 10% of the new cost. The annual effective interest rate is 9.00%. Assume two significant figures. Determine by the equivalent uniform annual cost method which alternative is a better buy. EXTRA CREDIT (5 points) 4) You are working for a manufacturing plant that is considering two different pieces of equipment to perform an operation within the plant. You have gathering the following data: Which machine would you recommend being purchased and why? An annual effective interest rate of 9.5% is expected