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Gluon Incorporated is considering the purchase of a new high pressure gluebali. It can purchase the glueball for $120,000 and sell its old low-pressure glueball,

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Gluon Incorporated is considering the purchase of a new high pressure gluebali. It can purchase the glueball for $120,000 and sell its old low-pressure glueball, which is fully depreciated, for $20,000. The new equipment has a 10 -year useful life and will save $28,000 a year in expenses before tax. The opportunity cost of capital is 12%, 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. Do not round intermediate calculations. Round your answer to 2 decimal places. Answer is complete but not entirely correct

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