"To decrease the cost of operating a lock in a large river, a new system of operation is proposed. The system will cost $770,000 to design and build. It is estimated that it will have to be reworked every 8 years at a cost of $120,000. In addition, a one-time expenditure of $78.000 will have to be made at the end of the fifth year for a new type of gear that will not be available until then Annual operating costs are expected to be 574,000 for the first 13 years and $104,000 thereafter. Compute the capitalized cost of perpetual service at 1-8.8%. Enter your answer as a POSITIVE number