A proposed cost$-$saving device has an installed cost of $$760,000.$ The device will be used in a five$-$year project but is classified as three$-$year MACRS property for tax purposes. $($MACRS schedule$)$ The required initial net working capital investment is $$65,000,$ the marginal tax rate is $25$ percent, and the project discount rate is $8$ percent. The device has an estimated Year $5$ salvage value of $$100,000.$ What level of pretax cost savings do we require for this project to be profitable? $($Do not round intermediate calculations and round your answer to $2$ decimal places, e$.$g$.,32\mathrm{.}16.)$