A corporation is considering a proposal for the purchase of a machine that will save $250,000 per year before taxes. The cost of operating the machine, including maintenance, is $35,000 per year. The machine will be needed for five years after which it will have a zero salvage value. MACRS depreciation will be used, assuming a threeyear class life. The marginal incometax rate is 24%. If the firm wants 15% IRR after taxes, how much can it afford to pay for this machine?