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 firms tax rate is 21%. What is the equivalent annual saving from the purchase if Gluon can depreciate 100% of the investment immediately?