Jackson & Sons uses packing machines to prepare its products for shipping. They need to replace their primary packing machine and are considering two different options.

Machine $1$ costs $$397,500$ and lasts $5$ years before it needs replaced. The annual aftertax operating cost for the machine is $$38,400.$

Machine $2$ costs $$542,300$ and should last for $7$ years. It has an annual aftertax operating cost of $$24,750.$

What is the equivalent annual cost of each machine if the required return is $16$ percent?

EAC for Machine $1=$

EAC for Machine $2=$