Assume a machine costs $580,000 and lasts seven years before it is replaced. The operating cost is $105,000 a year. Ignore taxes. What is the equivalent annual cost if the required rate of return is 14 percent? (Hint: the EAC should account for both initial investment and annual operating costs) $240,251.58 $243,049.89 O $245,848.20 $248,646.51 O $251,444.82