A current asset (defender) is being evaluated for potential replacement. It was purchased four years ago at a cost of $61,000. It has been depreciated as a MACRS (GDS) five-year property-class asset. The corresponding depreciation rates are: 20%, 32%, 19.2%, 11.52%, 11.52% and 5.76%. The present MV of the defender is $15,000. Its remaining useful life is estimated to be four years, but it will require additional repair work now (a one-time $3,800 expense) to provide continuing service equivalent to the challenger. The current effective income tax rate is 39%, and the after-tax MARR equals=18% per year. Based on an outsider viewpoint, what is the after-tax initial investment in the defender if it is kept (not replaced now)?