Engineering economics

2.45 Toselli Animation plans to offer its employees a salary enhancement package that has revenue sharing as its main component. Specifically. the company will set aside 1% of total sales revenue for year-end bonuses. The sales are expected to be $5 million the first year, S5.5 million the second year, and amounts increasing by 10% each year for the next 5 years. At an interest rate of 8% per year. what is the equivalent annual worth in years 1 through 5 of the bonus package