Eytchison Industrial Products Inc. has developed a new industrial grinder, model OK-23, that is designed to offer superior performance to a comparable grinder sold by Eytchisons main competitor. The competing grinder sells for $52,000 and needs to be replaced after 1,000 hours of use. It also requires $9,800 of preventive maintenance during its useful life. Model OK-23s performance capabilities are similar to the competing grinder with two important exceptionsit needs to be replaced only after 3,000 hours of use and it requires $19,600 of preventive maintenance during its useful life. Required: From a value-based pricing standpoint what is model OK-23s economic value to the customer over its 3,000 hour life?