Springfield Ironworks (SI) recently had their furnace break down and they need to quickly purchase a new one to minimize the disruption in their production. They can either choose a high quality furnace (H) that costs $100,000 with $3,500 of annual maintenance costs for the 7-year life of the furnace, or a low quality furnace (L) that costs $50,000 with $6,500 in annual maintenance costs for the 3-year life of the furnace. Which furnace should SI choose? What is the annualized cost of their choice? Assume a discount rate of 5.5%, and ignore all taxes.