Bridgton Golf Academy is evaluating new golf practice equipment. The "Dimple-Max" equipment costs $137,000, has a 4-year life, and costs $10,600 per year to operate. The relevant discount rate is 9 percent. Assume that the straight-line depreciation method is used and that the equipment is fully depreciated to zero. Furthermore, assume the equipment has a salvage value of $10,100 at the end of the project’s life. The relevant tax rate is 23 percent. All cash flows occur at the end of the year. What is the equivalent annual cost (EAC) of this equipment?2. The basic principles of property insurance What are the basic principles of property insurance? There are two major types of insurance that protect your real and personal property, and that of othe