Question (3) (10 marks) Jackson \& Sons uses packing machines to prepare its products for shipping. One machine costs $132,000 and lasts about 4 years before it needs replaced. The maintenance cost is $6,000 a year. If another machine costs $160000, lasts 5 years and its maintenance cost is 5000 a year. Assuming that revenues and other costs will be the same in case the company purchase either machines. What is the equivalent annual cost for each machine, which machine would you purchase, if the required rate of return is 13%