Care Co needs to replace a major piece of office equipment that is in constant use and for which there is expected to continue to be use for the foreseeable future. Two types of machine are available with different capital costs, useful lives, scrap values and annual running costs. Machine 1 will initially cost $480,000, have a life of four years, scrap value of $60,000 and annual running costs of $72,000.Machine 2 will initially cost $540,000, have a life of three years, scrap value of $120,000 and annual running costs of $47,000 have a life What is the equivalent annual cost of machine 2