ABC construction just purchased a new track hoe attachment costing $12,500. The CFO expects the attachment will be used for 5 years at which time its salvage value is estimated to be $4000. Maintenance costs are estimated at $0 for the first year, increasing by $100 each year thereafter. If a 12% interest rate is used, what is the equivalent uniform annual cost of the implement?

$2,743

-$3015

$3,243

$4,270