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Curently your firm leases its main manutacturing equipment. You are considering buying the equipment instead You estimale that the equipment would cost $14,900 to buy

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Curently your firm leases its main manutacturing equipment. You are considering buying the equipment instead You estimale that the equipment would cost $14,900 to buy today and then $2,100 each year for 3 years to maintain (after 3 years it will be worthless and you'll need to buy a now machine). If your discount rate is 10.4%, what is the equivalent annual cost (EAC) of buying the machine? The EAC of buying the machine is (Round to the nearest dollar)

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