Rickie's Inc. is considering replacing a machine. These are the data for both the used and new machine.

Used machine: the machine was purchased for $16,925 two years ago, the current salvage value is $10,050 and is expected to have a scrap value of $5,633 whenever it is retired. This used machine still has 5 years left of service. From now on, the operating and Maintenance costs are $2,263 for the first year and expected to increase by $1,305 thereafter.

New Machine: machine costs $13,089 and is expected to have a scrap value of $7,803 whenever it is retired. Operating and Maintenance costs are $1,997 for the first year and expected to increase by $1,496 thereafter. The service life of this machine is 4 years.

If the MARR is 8%, determine the minimum equivalent uniform annual cost associated with the optimal economic life of the machine that offers the lowest EUAC. round your answer to two decimal places