7.25 United Healthcare, Inc. needs a new admitting system, which costs $60,000 and requires

$2,000 in maintenance for each year of its five-year life. The system will be depreciated straight-line down to zero without salvage value at the end of five years. Assume a tax rate of 35 percent and an annual discount rate of 18 percent. What is the equivalent annual cost of this admitting system?