Assume a machine costs $460,000 and lasts five years before it is replaced. The operating cost is $52,500 a year. Ignore taxes. What is the equivalent annual cost if the required rate of return is 11 percent? (Hint: the EAC should account for both initial investment and annual operating costs)

A.$191,204.81

B.$183,344.25

C.$180,645.23

D.$176,962.34

E.$165,221.87