Example 5.6 A dam will have a first cost of $5,000,000, an annual maintenance cost of $25,000 and minor reconstruction costs of $100,000 every five years. At an interest rate of 8% per year, the capitalized cost of the dam is nearest to:

(A) -$213,125 (B) -$525,625 (C) -$5,312,500 (D) -$5,525,625