Peach Upside Down Cake

2 Tablespoons margarine
1/3 Cup packed brown sugar
1 (8 3/4 ounce) can peach halves, drained and halved
1 1/3 Cup all-purpose flour
2/3 Cup sugar
2 Teaspoons baking powder
2/3 Cup milk
1/4 Cup margarine, softened
1 Egg
Melt margarine in a 9X1 1/2 inch round baking pan. Stir in sugar and 1 tablespoon water. Arrange peaches in the pan. Prepare Batter in a bowl. Combine flour, sugar, and baking powder. Add milk, margarine, egg, and vanilla. Beat with an electric mixer on low speed till combined. Beat on medium speed for 1 minutes. Bake in a 350 degree oven for 30 to 35 minutes or till a toothpick inserted near the center comes our clean. Cool on for 5 minutes. Loosen sides and invert onto a plate.