A company is considering the purchase of a large stamping machine that will cost exist155,000, plus exist5, 900 transportation and exist11, 100 installation charges. It is estimated that, at the end of five years, the market value of the machine will be exist44,000. The IRS has established that this machine will fall under a three-year MACRS class life category. The justifications for the machine include exist32,000 savings per year in labor and exist42,000 savings per year in reduced materials. The before-tax MARR is 20% per year, and the effective income tax rate is 40%. What is the after-tax equivalent annual worth of this investment over the five year period which ends with the sale of the machine? (Do not enter a dollar sign with your answer.) A city is spending exist39 million on a new sewage system. To cover the cost, the city will issue bonds with a face value of exist15,000, paying 8.25% interest per year, and redeemable at face value in 28 years. If an investor's personal MARR is 12.5% per year, what is the maximum price the investor can pay for one of the municipal bonds if the bond is held until maturity? (Enter your answer as a number without the dollar exist sign.)