Question 16 (Mandatory) (16 points) Calculate the hourly ownership cost for the third year of life of a wheel tractor having an initial cost of $295,000, an estimated salvage value of $65,000, and an expected life of 7 years. The rate of interest, taxes, and insurance is 9%, and the rate for storage and miscellaneous costs is 2%. A set of tires costs $5,000. Assume that the tractor is operated 2,100 hours during the year. $28.98/hr $28.56/hr $36.27/hr $20.90/hr Hide hint for Question 16 Use the sum of years' digits method