Gluon Inc. is considering the purchase of a new high pressure glueball. It can purchase the glueball for $60000 and sell its old low-pressure glueball, which is fully depreciated for $10000. The new equipment has a 10-YR useful life and will save $14000 a year in expenses. The opportunity cost of capital is 11% 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.