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Higgins Machine Tools, Inc. is currently manufacturing one of its products on a hydraulic stamping press machine. The machine has an operating and maintenance cost of $50,000 in the first year, and this cost is expected to increase by $4,500 each year. The machine has a remaining useful life of five years and could be sold on the open market now for $100,000. Its market value declines at a rate of 15%. The MARR is 15% for this investment. You may populate and use the table below to solve the problem (if needed). n Market Value O&M costs CR (15%) OC (15%) AEC (15%) 0 1 N 3 4 5 If the Capital Recovery costs (CR) at the end of Year 1 is $30,000. What is the Annual Equivalent Costs (AEC) of the machine at the end of year 1? $75,000 $80,000 $77,000 $83,000