Low-energy lightbulbs typically cost $3.55, have a life of nine years, and use about $1.65 of electricity a year. Conventional lightbulbs are cheaper to buy, for they cost only $.51. On the other hand, they last only about a year and use about $6.65 of energy.
a. If the real discount rate is 6%, what is the equivalent annual cost of the two products? (Do not round intermediate calculations. Enter your answers as a positive value rounded to 2 decimal places.)