Calculate which of the following suppliers is the most cost-effective:

a. Safe Hands Insurance Company has received a number of quotations for their new AIS. Calculate how much each system will cost per year and determine which of the quotes is most cost-effective.

Access IT Company has provided a quote of $84,000. The system will last for seven years. They provide free services and maintenance. They offer technical support for an additional cost of $6,000 a year. All the required hardware has been included in the cost of the quote.

b. Vision IT Technical Consultants has provided a quote of $105,000. The system will last for 10 years. Their quote includes technical support. The quote includes all the required hardware; however, the hardware must be checked and serviced by them, twice a year at a cost of $5,000 per service.

c. Total IT Solutions has provided a quote of $65,000. The system will last for five years. The cost of technical support, services and maintenance are included in the price. The hardware required will cost an additional $22,500.