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(3 marks) Eggbert's Egg Company is choosing between 3 chocolate processing machines. Machine 1 will...

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(3 marks) Eggbert's Egg Company is choosing between 3 chocolate processing machines. Machine 1 will last 2 years and has a cost of $15 million; Machine 2 will last 3 years and has a cost of $20 million; Machine 3 will last 4 years and has a cost of $25 million. You can assume the machines will be replaced indefinitely. Assume that the appropriate discount rate is 10%. Show your calculations. a) (1 mark) Which of the 3 machines has the lowest Annual Equivalent Cost? b) (1 mark) Which of the 3 machines has the lowest perpetuity value? c) (1 mark) Suppose your first-choice machine is NOT available? Which machine would you now choose? Why

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