$3.$ We have three options in replacing our fleet of vehicles. Option one is to use high$-$end vehicles that cost $$95,000$ dollars, require maintenance of $$1,000$ per year and have a salvage value of $$68,000$ after four years. Option two is to use mid$-$value vehicles that cost $$70,000,$ require $$1,800$ in maintenance each year, and have a salvage value of $$50,000$ after three years. Option three is to use low$-$value vehicles that cost $$40,000,$ require maintenance of $$3,000$ per year and can be sold for $$28,000$ after two years of usage. Using a $5\mathrm{.}3\%$ cost of money please calculate the equivalent annual cost$/$charge for each option and recommend the best financial option. Assume year$-$end cash flows for simplicity.

Equivalent annual charge for the high$-$end option$\_\_\_\_\_\_\_\_\_$

Equivalent annual charge for the mid$-$value option$\_\_\_\_\_\_\_\_\_$

Equivalent annual charge for the low$-$value option$\_\_\_\_\_\_\_\_\_$

Which option should be chosen? $\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_$