Question: Econo - Cool Air Conditioners cost $ 4 0 0 to purchase and results in an electricity bill of $ 2 0 0 per year.

Econo-Cool Air Conditioners cost $400 to purchase and results in an electricity bill of $200 per year. The Econo-Cool Air Conditioners lasts for 7 years. The discount rate is 22%. What is the equivalent annual cost?
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