Consider a palletizer at a bottling plant that has a first cost of $151,500, operating and maintenance costs of $17,675 per year, and an estimated net salvage value of $25,250 at the end of 30 years. Assume an interest rate of 8%. What is the annual equivalent cost of the investment if the planning horizon is 30 years? $32,300 $30,909 $35,481 $30,058