Air conditioning for a college dormitory will cost $1.5 million to install and $200,000 per year to operate at current prices. The system should last 25 years. The real cost of capital is 5%, and the college pays no taxes. What is the present value of the costs and the equivalent annual cost? Note: Use cells AS to B11 from the given information to complete this question. You must use the builtin Excel function to answer this question. All answers should be displayed as positive numbers. Round your answer to 2 decimal places. input area: For an answer to be graded as correct, you must use an Excel formula: 1. Begin each formula with an = sign. 2. Reference cells, instead of entering values. Example: =B3+C3