2.8 The engineering supervisor in a company is recommending the purchase of a new machine for a production line. The machine has an initial cost of $285,000 and is expected to be functional for 20 years. At the end of its life, it can be sold for $80,000. The addition of this machine will increase production, which results in an increase in annual income of $75,000. The machine will require annual maintenance. If the company’s minimum rate of return is 25%, how much can be spent on annual maintenance?