Consider a palletizer at a bottling plant that has a first cost of \(\$ 150,000\), operating and maintenance costs of \(\$ 17,500\) per year, and an estimated net salvage value of \(\$ 25,000\) at the end of 30 years. Assume an interest rate of 8 percent. What is the present equivalent cost of the investment if the planning horizon is 30 years?

a. \(\$ 335,000\)

b. \(\$ 344,500\)

c. \(\$ 360,000\)

d. \(\$ 395,500\)