Nippon Steel's expenses for heating and cooling a large manufacturing facility areexpected to increase according to an arithmetic gradient beginning in year 2. If the cost is$550,000 this year (year 0) and will be $550,000 again in year 1, but then it is estimated toincrease by $48,000 each year through year 12, what is the equivalent annual worth inyears 1 to 12 of these energy costs at an interest rate of 8% per year?

The equivalent annual worth is determined to be ?