Calculate the Equipment Cost (Ceq) to run a lathe, if the initial cost of the lathe was $80,000 and the lathe is expected to last for 9 years. Every year you plan to operate 48 weeks, while running the lathe for 50 hours each week. The overhead equipment rate at your facility is 15 (Hint: the answer for this will be in the units of $/ minute, so you can round to two decimal places so your answer is in cents. XX )