Gluon Inc. is considering the purchase of a new high pressure glueball. It can purchase the glueball for $170,000 and sell its old low-pressure glueball, which is fully depreciated, for $30,000. The new equipment has a 10-year useful life and will save $38,000 a year in expenses. The opportunity cost of capital is 11%, and the firm's tax rate if 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.

Equivalent annual savings _______

My answer was 5,827.80 but it is saying that is the wrong answer