Jackson amp; Sons uses packing machines to prepare its products for shipping. One machine costs $178,000 and lasts about 5 years before it needs replaced. The operating cost per machine is $16,000 a year. What is the equivalent annual cost of one machine if the required rate of return is 12 percent?

Select one: a. $81,006.15 b. $65,378.93 c. $54,224.08 d. $79,004.12 e. $38,556.67