Tarkan is considering purchasing a commercial solar panel system that costs $$100,000.$ By the end of year one, its estimated market value will be $$80,000,$ decreasing by $$10,000$ per year thereafter. Over its $7-$year service life, the system incurs the following annual maintenance costs: $$10,000$ per year for the first two years, $$12,000$ in year three, $$15,000$ in year four, and $$20,000$ per year from year five onward.

Using a minimum attractive rate of return $($MARR$)$ of $12\%,$ determine the equivalent annual cost of this system over a six$-$year period.

Question $3$ options:

a$)$

Between $$34,200$ and $$34,600$

b$)$

Between $$38,800$ and $$38,200$

c$)$

Between $$35,300$ and $$35,700$

d$)$

Between $$37,600$ and $$38,000$

e$)$

None of the answers are correct