Emma Movers, Inc. is purchasing a $50,000 machine to replace an existing one which cost $12,000 five years ago but can be sold for $10,500 today. The new machine belongs to a class of assets for which the CCA rate is 20%. If Emmas tax rate is 35%, what is the tax savings from claiming CCA in year 3, if the beginning UCC balance in the asset class is $70,000