(Equivalent annual annuity) Rib & Wings-R-Us is considering the purchase of a new smoker oven for cooking barbecue, ribs, and wings. It is looking at two different ovens. The first is a relatively standard smoker and would cost $ 52,000, last for 7 years, and produce annual cash flows of $ 15,000 per year. The alternative is the deluxe, award-winning Smoke-alator, which costs $ 78,000 and, because of its patented humidity control, produces the "moistest, tastiest barbecue in the world." The Smoke-alator would last for 11 years and produce cash flows of $ 24,000 per year. Assuming a required rate of return of 12 percent on both projects, compute their equivalent annual annuities (EAAs).