Econo-Cool air conditioners cost $345 to purchase, result in electricity bills of $159 per year, and last for 5 years. Luxury Air models cost $545, result in electricity bills of $118 per year, and last for 8 years. The discount rate is 25%. a. What is the equivalent annual cost of the Econo-Cool model? (Do not round intermediate calculations. Round your answers to 2 decimal places.) Answer is complete but not entirely correct. Econo-Cool Equivalent annual cost (845.60) X b. What is the equivalent annual cost of the Luxury Air model? (Do not round intermediate calculations. Round your answers to 2 decimal places.) X Answer is complete but not entirely correct. Luxury Air $ (1,048.75) X Equivalent annual cost d-1. Now you remember that the inflation rate is expected to be 10% per year for the foreseeable future. What is the equivalent annual cost of the Econo-Cool and Luxury Air model? (Do not round intermediate calculations. Round your answers to 2 decimal places.) X Answer is complete but not entirely correct. Econo-Cool Luxury Air (315.04) X Equivalent annual cost (314.44) $