From the data shown below, determine the trade-in value of machine X that will render its AW the same as that of machine Y. Use an interest rate of 8% per year.

Machine X Machine Y Market value, $ ? 80,000 Annual cost, 60,000 40,000 year 1,

$ per year increasing by 2000 per year thereafter Salvage value, $ 15,000 20,000 Life, years 3 5