Alex is considering using two robots instead of one worker on an assembly line. The robots cost $271,232 together and have an expected life of 11 years with zero scrap value. Annual maintenance and operating costs are $2,774 per shift. Each worker costs $59,347 per year. The equivalent annual value is calculated for the robots for one shift and three shifts over 10 years with a 13% interest rate.

1. Alex considers using two robots instead of one worker per shift on an assembly line. The robots
together cost $271232. They have an expected life of 11 years, although their expected scrap
value is zero. This life depends on economic loss and does not depend on wear. The maintenance
and operating costs of the robots are expected to be $2774 per year per shift worked. Each
person in Alex's company costs $59347 per shift per year. If the firm's interest rate is 13% : (It is
considered that 2 shifts are worked for a 10 -year period.) What is the equivalent annual value for
the robots? Calculate separately for one shift and three shifts.