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Econo-Cool air conditioners cost $360 to purchase, result in electricity bills of $162 per year, and last for 5 years. Luxury Air models cost $560,

Econo-Cool air conditioners cost $360 to purchase, result in electricity bills of $162 per year, and last for 5 years. Luxury Air models cost $560, result in electricity bills of $124 per year, and last for 8 years. The discount rate is 22%. The inflation rate is expected to be 10% per year for the foreseeable future. What are the equivalent annual cost of the Econo-Cool and Luxury Air model

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