Gluon Incorporated 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 before tax. The opportunity cost of capital is $11\%,$ and the firm's tax rate is $21\%.$ What is the equivalent annual saving

from the purchase if Gluon can depreciate $100\%$ of the investment immediately.

Note: Do not round intermediate calculations. Round your answer to $2$ decimal places.

Equivalent annual savings