) A garage is comparing the cost of buying two different car hoists. Hoist A will cost $20,000, will require servicing of $500 every two years, and last ten years. Hoist B will cost $15,000, require servicing of $800 per year, and last eight years. If the cost of capital is 7%, which is the better option, given that the firm has an ongoing requirement for a hoist? A) Hoist A, since it has a greater equivalent annual annuity. B) Hoist A, since it has a greater present value (PV). C) Hoist B, since it has a greater present value (PV). D) Hoist B, since it has a greater equivalent annual annuity.