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The annual pumping cost for delivering water from the Durian Tunggal River to Bukit Jus Dam was RM 400 000 for the first 3 years. An effective energy conservation program resulted in a reduced cost to RM 300 000 in year 4 and year 5. Determine the equivalent annual worth of the pumping costs over the 5 years at an interest rate of 12% per year compounded quarterly.