A new piece of equipment in a refinery costs $20 000. It depreciate at a declining-balance rate of 20% annually. The maintenance costs are $3 000 in the first year, increasing by $1 000 per year thereafter. Calculate the EAC over the first three years of the equipment's life, assuming a 8% interest rate. What is the economic service life of the equipment? Construct a table that has the following headings: Year, Salvage Value, EAC (Capital), EAC (Maintenance), and EAC Total