PLEASE SOLVE THE FOLLOWING BY HAND AND NOT BY EXCEL

Calculating EAC [LO4] You are evaluating two different silicon wafer milling machines. The Techron I cost $245,000, has a three-year life, and has pretax operating costs of $63,000 per year. The Techron II costs s420,000, has a five-year life, and has pretax operating costs of $35,000 per year. For both milling machines use straight-line depreciation to zero over the projeet's life and assume a salvage value of $40,000. If your tax rate is 22 percent and your discount rate is 1o percent, compute the EAC for both machines. Which do you prefer? Why