A city maintenance department is upgrading its lawn keeping equipment.
The Lawn Chomper has an initial cost of $73026, expenses of $18.09 per hour, a lifespan of 7 years and a salvage value of $17619. It will require a major overhaul of $11810 at the end of year 3 and another overhaul of $8402 at the end of year 4.
The Green Hunger has an initial cost of $96375, a lifespan of 11 years and a salvage value of $17049. It will only require one overhaul of $22505 at the end of year 6.
What can the maximum expense per hour of the Green Hunger be to make it equivalent in cost to the Lawn Chomper?
The maintenance department typically runs 3990 hours per year. Use a MARR of 3% to make the calculation.
Enter your answer as follows: 12.34 - round your answer to 2 decimal places
Do not use a dollar sign ("$").