Sample Test Problem 11.05 Managers of Crane Embroidery have decided to purchase a new monogram machine and are considering two alternative machines. The first machine costs $102,000 and is expected to last five years. The second machine costs $163,000 and is expected to last eight years. Assume that the opportunity cost of capital is 8 percent. What is the equivalent annual cost for each system? (Do not round intermediate calculations. Round final answers to 2 decimal places, e.g. 2.75.) Equivalent Annual Cost First machine Second machine Which machine should Crane Embroidery purchase? machine Crane Embroidery should purchase the