The Northwest Manufacturing Company is currently manufacturing one of its products on a hydraulic stamping-press machine. The unit cost of the product is $13, and 2,000 units were produced and sold for $17 each during the past year. It is expected that both the future demand of the product and the unit price will remain steady at 2,000 units per year and $17 per unit. The old machine has a remaining useful life of 3 years. The old machine could be sold on the open market now for $4,100. Three years from now, the old machine is expected to have a salvage value of $1,000. The new machine would cost $45,100, and the unit manufacturing cost on the new machine is projected to be $9. The new machine has an expected economic service life of 5 years and an expected salvage value of $5,800. The old stamping machine has been fully depreciated. For tax purposes, the entire cost of $45,100 (the new stamping machine) can be depreciated according to a five-year MACRS property class. The firm`s marginal tax rate is 43%, and the after-tax MARR is 10%. The firm does not expect a significant improvement in technology, and it needs the service of either machine for an idefinite period. What is the ANNUAL EQUIVALENT WORTH of the preferred alternative?