A city is offering to install and operate a water pumping station to provide service to a proposed new production facility. The station will cost $50,000 now plus it will incur $10,000 per year in operating costs for the next 3 years, all measured in year-0 real dollars. To reimburse the city, the new business must pay a fixed uniform annual fee, A, at the end of each year for 3 years to cover the construction and operating costs of the station. It is agreed that the city should receive a 5% real rate of return after taking an inflation rate of 3.8% into account. Determine the equivalent uniform annual cost in actual dollars to the new business.

a. EUAC = $9,682

b. EUAC = $19,236

c. EUAC = $29,686

d. EUAC = $30,509

e. EUAC = $77,228