You are considering a luxury apartment building project that requires an investment of $14,500,000. The building has 50 units. You expect the maintenance cost for the apartment building to be $350,000 the first year and $400,000 the second year. The maintenance cost will continue to increase by $50,000 in subsequent years. The cost to hire a manager for the building is estimated to be $85,000 per year. After five years of operation, the apartment building can be sold for $16,000,000. What is the annual rent per apartment unit that will provide a return on investment of 15%? Assume that the build-will remain fully occupied during its five years operation.