Megabitt Electronics is considering the purchase of a new programmable circuit tester in order to improve its product quality. The equipment has a first cost of $80,000 and the salvage value is predicted to be $5,000 after a service life of 5 years. Maintenance and operating costs are expected to be $9,000 the first year of operation and increase by $1,500 per year for each additional year of use. Using an interest rate of 10% (which you can consider to be the MARR), determine what annual savings must be obtained through the use of this equipment to make it economically justifiable.