Using an interest rate of 12%, find the equivalent uniform annual cost for a piece of construction equipment that has an initial purchase cost of $80,000, an estimated economic life of 8 years, and an estimated salvage value of $10,000. Annual maintenance will amount to $600 per year and periodic overhauls costing $1,000 each will occur at the end of the 2^nd, 4^th, and 6^th years. Also, draw the cash flow diagram. (10 Points)

Please answer using Excel, thank you.