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HT Bowling, Inc is considering the purchase of VOIP phone system. It will require an initial investment of $16,750 and $4.750 per year in annual operating costs over the equipment's estimated useful life of 4 years. The company will use a discount rate of 9%. What is the equivalent annual cost? $9,920 $15,110 $12,961 $4,723 HT Bowling, Inc is considering the purchase of VOIP phone system. It will require an initial investment of $16,750 and $4.750 per year in annual operating costs over the equipment's estimated useful life of 4 years. The company will use a discount rate of 9%. What is the equivalent annual cost? $9,920 $15,110 $12,961 $4,723