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What is the equivalent annual cost of an oven

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Problem 1: Country Breads uses specialized ovens to bake its bread. One oven costs $249,000 and lasts about 15 years before it needs to be replaced. The annual operating cost per oven is $34,300. What is the equivalent annual cost of an oven if the required rate of return is 10 percent?

Option 1: 74,839.43
Option 2: 67,036.97
Option 3: 73808.19
Option 4: 60560.08
Option 5: 28729.77

Reference no: EM132959936

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