Question: Air conditioning for a college dormitory will cost $ 2 . 1 million to install and $ 1 7 0 , 0 0 0 per

Air conditioning for a college dormitory will cost $2.1 million to install and $170,000 per year to operate at current prices. The system
should last 19 years. The real cost of capital is 9%, and the college pays no taxes. What is the equivalent annual cost? (Enter your
answer in dollars not in millilons and round your answer to 2 decimal places.)
Equivalent annual cost
Air conditioning for a college dormitory will cost $2.1 million to

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