Sheep Ranch Golf Academy is evaluating new golf practice equipment. The "Dimple$-$Max" equipment costs $$138,000,$ has a $4-$year life, and costs $$13,800$ per year to operate. The relevant discount rate is $12$ percent. Assume that the straight$-$line depreciation method is used and that the equipment is fully depreciated to zero. Furthermore, assume the equipment has a salvage value of $$11,500$ at the end of the project$$s life. The relevant tax rate is $25$ percent. All cash flows occur at the end of the year. What is the equivalent annual cost $($EAC$)$ of this equipment? $($A negative amount should be indicated by a minus sign. Do not round intermediate calculations and round your answer to $2$ decimal places, e$.$g$.,32\mathrm{.}16.)$

Sheep Ranch Golf Academy is evaluating new golf practice equipment. The "DimpleMax" equipment costs $\backslash (\backslash$$ $138,000\backslash ),$ has a $4-$year life, and costs $\backslash (\backslash$$ $13,800\backslash )$ per year to operate. The relevant discount rate is $12$ percent. Assume that the straight$-$line

depreciation method is used and that the equipment is fully depreciated to zero. Furthermore, assume the equipment has a salvage value of $\backslash (\backslash$$ $11,500\backslash )$ at the end of the project's life. The relevant tax rate is $25$ percent. All cash flows occur at the end of the year. What is the equivalent annual cost $($EAC$)$ of this equipment? $($A negative amount should be indicated by a minus sign. Do not round intermediate calculations and round your answer to $2$ decimal places, e$.$g$.,32\mathrm{.}16.)$

Answer is complete but not entirely correct.