You are deciding whether to purchase a new inverter air conditioner for your office or one of lesser quality. The inverter air conditioner costs $40,000 and has a running cost of $5,000 per year, and it should last five years. The lesser quality air conditioner costs $30,000 and has a running cost of $6,000 per year and it should last four years. If your cost of capital is 12 percent, then what is the equivalent annual cost for the best choice for your firm