5. A grinding machine has an initial cost of $24,000 with an expected useful life of 13 years. Salvage value at the end of its useful life is estimated to be $8,000. Annual maintenance expenses are $350. What is the equivalent uniform annual cost of the grinding machine? (Assume MARR=8%) (a) $2,370 (b) $2,665 (c) $2,980 (d) $3,010