Compute the Equivalent Annual Worth of this alternative. The annual interest rate is 8% compounded quarterly. The life of this alternative is 4 years.
First cost: $93,000
Quaterly cost: $7,000
Quaterly income: $19,000
Salvage value: $11,000
a. EAW = $6,158
b. EAW = -$13,636
c. EAW = $5,737
d. EAW = -$617