A proposed cost-saving device has an installed cost of $775,000. The device will be used in a five-year project but is classitied as three-year MACRS property for tax purposes (MACRS. schedule). The required initial net working capital investment is $77,000, the tax rate is 23 percent, and the project discount rate is 11 percent. The device has an estimated Year 5 satvage value of 5109,000 . 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.9., 32.16