You are operating an oid machine that is expected to produce a cash inflow of $6,200 in each of the next 3 years before it fails. You can replace it now with a new machine that costs $21200 but is much more efficient and will provide a cash flow of $11.800 a year for 4 years. Calculate the equivalent annual cost of the new machine if the discount rate is 16%. (Do not round intermediate calculations. Round your answer to 2 decimal places) Evianta cost of the purchase price 5 7,670 Should you replace your equipment now? Yes O No