A proposed cost-saving device has an installed cost of 655000. The device will be used in five-year project but is classified as three-year MACRS property for tax purposes. The required initial net working capital investment is 49000, the marginal tax rate is 35 percent, and the project discount rate is 12 percent. The device has an estimated year 5 salvage of 74000. What level of pretax cost savings do we require for this project to be profitable