Costs associated with the manufacture of miniature high-sensitivity piezoresistive pressure transducers is $74,000 per year. A clever industrial engineer found that by spending $16,000 now to reconfigure the production line and reprogram two of the robotic arms, the cost will go down to $49,000 next year and $55,000 in years 2 through 5 . Using an interest rate of 11% per year, determine the present worth of the savings due to the reconfiguration. The present worth of the savings is determined to be $