Problem $03\mathrm{.}013-$ Annual worth calculations

What is the equivalent annual cost in years $1$ through $9\mathrm{.}00$ of a contract that has a first cost of $$76,000$ in

year $0$ and annual costs of $$16,000$ in years $3$ through $9\mathrm{.}00?$ Use an interest rate of $13\mathrm{.}00\%$ per

year. $($Round the final answer to three decimal places.$)$

The equivalent annual cost is determined to be $