Blooper Industries must replace its magnoosium purification system. Quick & Dirty Systems sells a relatively cheap purification system for $$10$ million. The system will last $5$ years. Do$-$It$-$Right sells a sturdier but more expensive system for $$12$ million; it will last for $8$ years. Both systems entail $$1$ million in operating costs; both will be depreciated straight$-$line to a final value of zero over their useful lives; neither will have any salvage value at the end of its life. The firm$$s tax rate is $30\%,$ and the discount rate is $14\%.$

What is the equivalent annual cost of investing in the cheap system?