8. You are the plant manager for ID Foods. You need to purchase equipment for making chocolate. Two suppliers, American First and Canada's Best offer to sell you the equipment. American First sells for $50,000 and must be paid immediately. At the end of 4 years, American will buy back the used equipment for $7,425. Canada's Best sells for $53,000 and must be paid immediately. Since Canada's Best is made in Canada purchasers receive an income tax credit (refund) equal to 5% of the initial purchase price. They receive the refund in 9 months when they file their tax return. At the end of 4 years Canada's Best will buy back the used equipment for $8,250. If money is valued at 8% SIMPLE, which one has the lower cost? Use today to compare