Scholastic Co. is evaluating a machine with an initial cost of $500,000 and a six-year life that costs $110,000 per year to operate. The firm uses straight-line depreciation; the applicable discount rate is 9%. The machine will have noi salvage value at the end of the project's life. The firm has a tax rate of 21%. Calculate the EAC for the project. (Enter a positive value and round to 2 decimals) Scholastic Co. is evaluating a machine with an initial cost of $500,000 and a six-year life that costs $110,000 per year to operate. The firm uses straight-line depreciation; the applicable discount rate is 9%. The machine will have noi salvage value at the end of the project's life. The firm has a tax rate of 21%. Calculate the EAC for the project. (Enter a positive value and round to 2 decimals)