A company is provided with a choice of 2 kinds of air-conditioners of a similar capacity of 12,500 kcal/hr. The traditional air-conditioner costs around HK$50,000 with an EER of 2.16 kcal/h W and is estimated to use 140 kWh of electricity daily on average. A new type of air-conditioner employing evaporative cooling for the condenser having EER of 4.66 kcal/h W is estimated to use only 75 kWh of electricity every day but with an addition of 750 liters of water daily on average. Assume both air-conditioners would have a useful life of 10 years and with a similar cost of maintenance and salvage value. Consider in Hong Kong, the cost of electricity is HK$1/kWh and water costs HK$4.58/m^3, calculate the breakeven cost of the above air-conditioner with condenser using evaporative cooling if the MARR is 8% p.a.