An injection molding system has a first cost of $90,000, and an annual operating cost of $42,000 in year 1, increasing by $5000 per year thereafter. The salvage value of the system is 30,000 if you sell after 1 year of use. The salvage value decreases by $5,000 each year thereafter. The maximum useful life of the machine is 4 years. Using a MARR of 20% per year, determine the ESL and the corresponding Equivalent Annual Cost of the system