A survey company is considering the purchase of a piece of new GPS equipment. Data concerning the alternative under consideration are as follows: First cost $28,000 Annual income 7,000 Annual costs 2,500 Salvage value 2,800 If the equipment has a life of 8 years and minimum attractive rate of return (MARR) is 5%, what is the annual worth of the equipment? If the company has a choice to rent the same equipment at the cost of $250.00/year, what is your recommendation