Question $16$: You're thinking of buying a car to travel around in$,$ rather than paying $$3,600$at the end of every year to use the train.You can buy an old second hand car for $$7,000$ now $($t$=0),$ and are optimistic that you cansell it after $3$ years for $$6,000($t$=3)$ so long as you maintain it and polish it$.$ You estimatethat the car will cost $$2,900$ per year in fuel, insurance, registration, maintenance, and timespent polishing, paid in arrears, so there will be $3$ payments from t$=1$ to t$=3$ inclusive. Therequired return is $10\%$ pa$.$Which of the following statements is NOT correct?$($a$)$ The net present value of the train's costs over one year is $$3,272\mathrm{.}73.($b$)$ The net present value of the car's costs over three years is $$9,703\mathrm{.}98.($c$)$ The equivalent annual cost $($EAC$)$ of the train is $$3,600.*($d$)$ The equivalent annual cost $($EAC$)$ of the car is $ $5,714\mathrm{.}80.($e$)$ The sum of the train's costs over the $3$ years is $$10,800,$ less than the car's $$9,700.$