You are considering the purchase of a new industrial pump that you will use for three years, and it will cost you $40,000 to buy. it will be depreciated using the 3-year MACRS schedule (.33, .45, .15, .07 are the factors) and will be sold at the end of the third year for $8,000. It will also require 3,000 each year in maintenance. If your tax rate is 25 % and your cost of capital is 10%, what is the equivalent annual payment for this machine?