As the director of a company, you are considering buying a car for $103, 000. At the end of its useful life of 5 years, you expect

to be able to sell it for $4, 300. the car is expected to have annual operating and maintenance expenses of $2, 300

Your car is expected to depreciate for tax purposes at a declining balance rate of 25%. The corporate income tax rate is 30%. Your companys WACC is

11%. Assume the asset pool remains open after selling the item.

Calculate the equivalent annual after-tax cost., the half-year rule should be used where applicable. Round your answer to the nearest dollar