A proposed cost$-$saving device has an installed cost of $$765,000.$ 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 $$67,000,$ the tax

rate is $21$ percent, and the project discount rate is $9$ percent. The device has an estimated Year $5$ salvage value of $$103,000.$ What

level of pretax cost savings do we require for this project to be profitable?

Note: Do not round intermediate calculations and round your answer to $2$ decimal places, e$.$g$.,32\mathrm{.}16.$

Pretax cost savings