Gluon Inc. is considering the purchase of a new high pressure glueball. It can purchase the glueball for $50, 000 and sell its old low-pressure glueball. which is fully depreciated, for S8.000. The new equipment has a 10-year useful life and will save $12,000 a year in expenses The opportunity cost of capital is 10%. and the firm's tax rate is 40%. What is the equivalent annual savings from the purchase if Gluon uses straight-line depreciation? Assume the new machine will have no salvage value (Do not round Intermediate calculations. Round your answer to 2 decimal places.) Equivalent annual savings $