An electronics firms invested $60,000 in a precision inspection device. It cost $4000 to operate and maintain in the first year, and $3000 in each of the subsequent years. At the end of four years, the firm changed their inspection procedure, eliminating the need for the device. The purchasing agent was very fortunate in being able to sell the inspection device for the $60,000 that had originally been paid for it. The plant manager asks you to compute the equivalent uniform annual cost of the device during the four years it was used. Assume interest at 10% per year.