A small mining group is considering the purchase of a $1,786,713 continuous mining machine that will operate approximately 6,000 hours per year. The operational costs for the unit are estimated to be about $192 per hour. The annual maintenance cost is estimated to be about 10% of the initial capital cost in year 1 and escalate by $52,032 each year thereafter. The expected life of the continuous miner is 7 years. The effective interest rate is 14%. What is the equivalent cost of the machine expressed as a single payment in year 0 (i.e "net present cost")?