Assume a machine costs $804,000 and lasts five years before it is replaced. The operating cost is $57,000 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 initial investment and annual operating costs) $246,718.72 $253,410.82 $261,533.99 $271,435.64 $280,037.42