How get equation baseline?

[Janneman84]

I use this package to create images of equations and interlacing them with text, like this:

For this to look nice I need to know the baseline of the equation, so I can line it up with the baseline of the text. I've shown a few examples below where I indicated the baseline with a blue line:



So I'm looking for a way to determine the Y coordinate (from the bottom) of these blue lines. For now I'm using a very nasty and hacky way to achieve this, but I'm hoping for a more durable solution.