Question: Question 45 (2 points) You will buy a car. The car costs $25,000 and the annual insurance, repair, maintenance, tax, and fuel cost is

Question 45 (2 points) You will buy a car. The car costs

Question 45 (2 points) You will buy a car. The car costs $25,000 and the annual insurance, repair, maintenance, tax, and fuel cost is $3,100 and could be sold for $12,000 at the end of the year five. What is the total equivalent annual cost (EAC) for this car if the cost of capital is 3.9 percent? $6,480 $5,700 $10,920 $8700

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