New machinery costing $581246 is being considered by Alpha Manufacturing as a potential investment designed to reduce the firms operating expenses. Installation and asset modifications are anticipated to cost $58388 in total. The machinery is to be depreciated over a 7 year useful life to a $0 residual value. The firms marginal tax rate is 40 percent and cost of capital is 8 percent.

What is the annual straight-line depreciation of this new machine?