An industrial firm can purchase a special machine for $70,000. A down payment of $5,000 is required, and the unpaid balance can be paid off in five equal year-end installments at 9% interest. As an alternative, the machine can be purchased for $66,000 in cash. If the firm's MARR is 10%, use the annual equivalent method to determine which alternative should be accepted. Click the icon to view the interest factors for discrete compounding when i=9% per year. Click the icon to view the interest factors for discrete compounding when MARR =10% per year. The annual equivalent worth of the first option is $ (Round to the nearest dollar.)