John is considering two project for his company. The Project E has an initial cost of $35,000, annual operating cost of $4,000 and life span of four years. The Project F has an initial cost of $39,000, annual operating cost of $4,500 and life span of five years. John company has a required rate of return of 10%. John wants to know the equivalent annual cost for each project. A. Project E $14,190; Project F $13,250 B. Project E $16,788; Project F $15,211 C. Project E $13,452; Project F $12,924 D. Project E $12,623; Project F $11,679 E. Project E $15,041; Project F $14,788