Bottom Up Diaper Service is considering the purchase of a new industrial washer. It can purchase the washer for $7,750.00 and it sell its old washer for $3,750.00. The new washer will last for 5 years and save $2,050 a year in expenses. The opportunity cost for capital is 14%, the firm tax rate is 30%. What is the equivalent annual cost of the washer. If the firm uses straight-line depreciation?