Riverside Inc. needs a state-of-the-art therapeutic equipment which costs $150,000. To maintain the equipment, an annual cost of $20,000 is required for each year over its six-year life. After six years, the equipment becomes useless without any salvage value. The equipment belongs to the Class 10 category (CCA rate is 30%). The company faces a tax rate of 35% and investors demand a discount rate of 15%. What would be the equivalent annual cost (EAC) of this equipment? -$35,280 -$43,990 -$40,087 - $52,636 -$17,990