9. You are purchasing new 3D printing equipment that has an initial cost of $39,000. The equipment will have the annual operating and maintenance costs indicated in the table. Annual costs occur at the end of the year.

Year 1	$2,500
Year 2	$3,000
Year 3	$1,000
Year 4	$5,000
Year 5	$3,000

If your cost of capital is 14%, what is the equivalent annual cost of the equipment?

10. What is the present value of a perpetuity that pays $5,000 per year if the cost of capital is 5.6%? Assume payments occur at the end of the year.