You're thinking of buying a car to travel around in, rather than using the train. You can buy an old second hand car for $7,000 now (t=0), and sell it after 8 years for $3,500(t=8). You estimate that the car will cost $4,500 per year in fuel, insurance, registration and maintenance, paid in arrears, so there will be 8 payments from t=1 to t=8 inclusive. Find the equivalent annual cost (EAC) of the car if the required return is 13% pa. Select one: a. $3,409.7384 b. $4,937.5 c. $5,684.3535 d. $28,594.4667 e. $43,725.7977