Pretzel Inc. is considering the purchase of a new dough machine. It can purchase the new machine for $$40,000$ and sell its old machine, which is fully depreciated, for $$6,000.$ The new equipment has a $10-$year useful life and will save $$10,000$ a year in expenses.

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 Pretzel can depreciate $100\%$ of the investment immediately.