fYou are operating an old machine that is expected to produce a cash inflow of $5,700 in each of the next 3 years before it fails. You can replace it now with a new machine that costs $20,700 but is much more efficient and will provide a cash flow of $11,050 a year for 4 years. Calculate the equivalent annual cost of the new machine if the discount rate is 14%. Note: Do not round intermediate calculations. Round your answer to 2 decimal places. Equivalent annual cost of the purchase price

You are operating an old machine that is expected to produce a cash inflow of $5,700 in each of the next 3 years before it falls. You can replace it now with a new machine that costs $20,700 but is much more efficient and will provide a cash flow of $11,050 a year for 4 years. Calculate the equivalent annual cost of the new machine if the discount rate is 14% Note: Do not round intermediate calculations. Round your answer to 2 decimal places