Assume a machine costs $280,000 and lasts six years before it is replaced. The operating cost is $30,600 a year. Ignore taxes. What is the equivalent annual cost if the required rate of return is 12 percent? (Hint: the EAC should account for both investment and annual operating costs) $100,980,35 $98.703 20 $96.426.05 $94.148.90 $91,871.75