A proposed cost$-$saving device has an installed cost of $$695,000.$ The device will be

used in a five$-$year project but is classified as three$-$year MACRS property for tax

purposes. The required initial net working capital investment is $$105,000,$ the marginal

tax rate is $25$ percent, and the project discount rate is $11$ percent. The device has an

estimated Year $5$ salvage value of $$80,000.$ What level of pretax cost savings do we

require for this project to be profitable? $($MACRS schedule$)($Do not round intermediate

calculations and round your answer to $2$ decimal places, e$.$g$.,32\mathrm{.}16.)$

Pretax cost savings