Your company has just signed a three-year non-renewable contract with the city of New Orleans for earthmoving work. You are investigating the purchase of heavy construction equipment for this job. The equipment costs $207,000 and qualifies for a five-year MACRS depreciation. At the end of the three-year contract, you expect to be able to see the equipment for $78,000. If the projected operating expense for the equipment is $70,000 per year, what is the after-tax equivalent uniform cost (EUAC) of owning and operating this equipment? The effective income tax rate is 43%, and the after-tax MARR is 15% per year.