can you tell me why the correct answer is (E) ?

use formula and computing to explain please

A garage is comparing the cost of buying two different garage doors. Model A will cost $40,000, require servicing cost of $2,000 at the end of every two years, and last ten years. Model B will cost $30,000; require servicing cost of $1,600 at the end of each year, and last eight years. If the cost of capital is 7%, which is the better option, given that the firm has an ongoing requirement for the garage door?

(A) Model A, since it has an equivalent annual annuity of -$4,678.

(B)Model A, since it has an equivalent annual annuity of -$6,624.

(C) Model A, since it has an equivalent annual annuity of-$6,660.

(D) Model B, since it has an equivalent annual annuity of -$4,994.

(E) Model B, since it has an equivalent annual annuity of -$6,624.