QUESTION 5 A small textile plant was constructed in 2008. The major equipment, costs, and factors are shown in the table below Reference Size Reference Cost Cost-Capacity Factor New Design Size 200 yd/min 150 yd/min $985,000 0.82 Equipment Finishing machine Jet dyer Steam dyer 200 yd/min $1,230,000 0.77 450 yd/min 100 yd/min $820,000 0.69 175 yd/min Estimate the cost (in dollars) lo build a new plant in 2018 if the index for this type of equipment has increased at an average rate of 3 % per year for the past 10 years. (Enter your answer as a number without the dollar $ sign.)