Your firm is thinking about investing $300,000 in the overhaul of a manufacturing cell in a lean environment. Revenues are expected to be $36,000 in year one and then increasing by $12,000 more each year thereafter. Relevant expenses will be $5,000 in year one and will increase by $2,500 per year until the end of the cell's six-year life. Salvage recovery at the end of year six is estimated to be $8,000 What is the annual equivalent worth of the manufacturing cell if the MARR is 18% per year?