QUESTION 3 A company must purchase a machine that will be used over the next eight years. The purchase price is $10,000, and the salvage value after eight years is $1000. The annual insurance cost is 2% of the purchase price, the electricity cost is S300 per year, and maintenance and replacement parts cost $100 per year. The effective annual interest rate is 6%. Neglect taxes. The effective uniform annual cost (EUAC) of ownership is most nearly O $1200 $2100 O$2200 $2300