Sheep Ranch Golf Academy is evaluating new golf practice equipment. The "Dimple$-$Max" equipment costs $$131,000,$ has a $5-$year life, and costs $$9,800$ per year to operate. The relevant discount rate is $11$ percent. Assume that the straight$-$line depreciation method is used and that the equipment is fully depreciated to zero. Furthermore, assume the equipment has a salvage value of $$9,700$ at the end of the project$$s life. The relevant tax rate is $21$ percent. All cash flows occur at the end of the year. What is the equivalent annual cost $($EAC$)$ of this equipment? $($A negative amount should be indicated by a minus sign. Do not round intermediate calculations and round your answer to $2$ decimal places, e$.$g$.,32\mathrm{.}16.)$