You purchased $60,000 worth horizontal milling machine in your ongoing project. You expect to save labour costs by $20,000 in year 1, $45,000 in year 2 and $10,000 in year 3. This machine will have different operating hours over three years: 1,200 hours between year 0 (now ) and year 1, 3,500 hours between year 1 and year 2 and 3,000 hours between year 2 and year 3. Using the information above, determine the equivalent savings per machine hour at MARR=8%. I a) Between S0.58 and $0.61 b) Between $0.24 and $0.27 c) None of the answers is correct d) Between $O 28 and $0.31 e) Between S0 34 and $0.37