In cleaning out some files that were left behind by the engineer who preceded you in your current job, you found an old report that had a calculation for the present worth of certain maintenance costs for state highways. The report contained the following equation (with cost in $1 million):
12{1 – [(1 + 0.03)/(1 + 0.06)] x}/(0.06 – 0.03) = 140
The value of x that was used in the calculation was illegible. What is its value?