3. A telephone company is considering building a new automated switching distribution substation with a useful life of 20 years to support new suburban developments. The substation is located in a state in which the combined tax rate is 40%, and the telephone company uses a l 5% real interest MARR to assess capital investment projects. Estimated real dollar revenues and costs are as follows Building initial cost Building salvage cost Equipment initial cost Equipment cost year 2 Equipment salvage value $36,500 Annual revenues Revenue arithmetic gradient $ 20,000 years 2 to 5 Annual revenues Annual operating expenses $1,157,000 S 250,000 $ 575,000 $ 150,000 S 650,000 year 1 750,000 years 6 to 20 185,000 first 10 years 230,000, years I1 to 15 275.000, years 16 to 20 S The substatowill be put into service on the first day of the telephone company's fiscal year. Using MACRS depreciation, what wil be the telephone company's after tax equivalent uniform annual worth for the substation