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Question 21 0.08/0.08 points Currently a firm replaces its equipment every year. The firm's manager calculated the equivalent annual cost for a piece of equipment as follows Replacement Salvage EAC Capita Annua EAC Repair period value 1,420 $1,287 $1,102 $1,082 $910 $795 $580 Cost repair costs costs 2 3 4 $976 $812 $673 $400 $600 $800 $1,200 $189 $298 $437 $592 How much can the firm save by making its replacement decision based on the concept of economic life? $22 $44 $38 $25 $16