Depreciation Tax Shield Barrick Company has a payback goal of 3 years on new equipment acquisitions. A new sorter is being evaluated that costs $450,000 and has a 5-year life. Straight-line depreciation will be used; no salvage is anticipated. Barrick is subject to a 40% income tax rate. How much reduction in annual cash operating costs must the new equipment generate in order to meet the company's payback goal? Show how you made your calculation. Submit your response in a Word or Excel file. An accurate response with a good explanation will increase your Homework score for Chapter 9 by 10%