A treasurer of a large corporation is considering to replace the old lathe. She narrowed down the alternatives into 3. The first machine will cost $115000, has a salvage value of $25000, a useful life of 11 years, and the annual operating cost of $18900. The second machine will cost $75600, has a salvage value of $11500, a useful life of 6 years, and the annual operating cost of $19500. The third machine will cost $52000, has a salvage value of $9000, a useful life of 5 years, and the annual operating cost of $22500. The discount rate is 11 percent. Which of these alternatives is the best based on equivalent annual cost (EAC)? What is the equivalent annual cost of the best machine? 35125359173507534925