Raj runs a company that is trying to decide between two pieces of equipment. The data on each piece of equipment can be found in the table below: Table 1. Equipment Data Option 1 Option 2 First Cost $25,917 Annual $11,416 $12,510 Costs Annual $29,019 $36,847 Savings Salvage $4,998 $7.716 Value Lifespan 8 years 8 years What would the first cost of Option 2 need to be to make the two options equivalent? Use an interest rate of 5% to make your calculation. Enter your answer as 1234. Do not use a dollar sign ("$"), any commas ("") or a decimal point (") in your