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7- A machine costs $10,000, has a useful life of 7 years and a salvage value of $1000.00 at the end of the 7th year.

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7- A machine costs $10,000, has a useful life of 7 years and a salvage value of $1000.00 at the end of the 7th year. If the interest rate is 9.8% compounded monthly, what is the equivalent uniform annual cost (EUAC) of this machine? a) $2070.99 b) $1966.40 c) S2054.00 d) $1948.60

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