Econo$-$Cool air conditioners cost $$500$ to purchase, result in

electricity bills of $$350$ per year, and last for five years. Luxury

Air models cost $$700,$ result in electricity bills of $$300$ per year,

and last for eight years. The discount rate is $21\%.$What is the equivalent annual cost of the Econo$-$Cool

model?$($Do not round intermediate calculations. Round

your answer to $2$ decimal places.$)$What is the equivalent annual cost of the Luxury Air

model?$($Do not round intermediate calculations. Round

your answer to $2$ decimal places.$)$Which model is more cost$-$effective?If the inflation rate is expected to be $10\%$ per year for the

foreseeable future.$$What is the equivalent annual cost of the

Econo$-$Cool model and Luxury Air model?$($Do not round

intermediate calculations. Round your answer to $2$ decimal

places.$)$a$.$EAC$($Econo$-$Cool Investment &Electricity$)$b$.$EAC$($Luxury Air

Investment & Electricity$)$c$.$Cost effective modeld.EAC$($Econo$-$Cool

Investment &Electricity$)$EAC$($Luxury Air Investment &

Electricity$)$