A production engineer is trying to decide whether or not to replace a full-time employee on a production line with a robot. The employee currently earns $20 per hour plus benefits worth $8 per hour, for a total annual cost of $58,240 this year. It is estimated that this cost will increase by 6% each year. The robot would cost $75,000 to purchase and install and will have a salvage value of $5,000 at the end of its 10-year useful life. Operating and maintenance costs for the robot are estimated to be $16,500 in the first year, increasing by $1,500 each year thereafter. Assuming the production engineer uses an annual interest rate of 15% to account for the time value of money, which option is the most attractive economically? Use a 10-year planning horizon for both alternatives.