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Sharpeye Enterprises has just acquired a new machine at a cost of $1.41 million. The equipment will be depreciated straight-line to zero over a 3-year life, after which time it will be replaced. Annual operating costs are estimated at $86,400 and the estimated market value at the end of the three years is $240,000. The tax rate is 35 percent. Show your work.What is the equivalent annual cost of this equipment if the discount rate is 15 percent?