A major repair on the suspension system of a
5-year-old car cost $2000 because the warranty
expired after 3 years of ownership. The cost of
periodic maintenance has been $800 every 2 years.
If the owner donates the car to charity after 8 years
of ownership, what is the equivalent annual cost of
the repair and maintenance in the 8-year period
of ownership? Use an interest rate of 8% per year,
and assume that the owner paid the $800 maintenance
cost immediately before donating the car in
year 8.