Question: Air conditioning for a college dormitory will cost $ 2 . 6 million to install and $ 1 4 5 , 0 0 0 per

Air conditioning for a college dormitory will cost $2.6 million to install and $145,000 per year to operate at current prices. The system should last 14 years. The real cost of capital is 6%, and the college pays no taxes. What is the equivalent annual cost?
Note: Enter your answer in dollars not in millions and round your answer to 2 decimal places.
Equivalent annual cost
Air conditioning for a college dormitory will cost $2.6 million to

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