Problem 9-11 Equivalent Annual Cost (LO2) Gluon Inc. is considering the purchase of a new high pressure glueball. It can purchase the glueball for $190,000 and sell its old low- pressure glueball, which is fully depreciated, for $34,000. The new equipment has a 10-year useful life and will save $42,000 a year in expenses. The opportunity cost of capital is 11%, 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.) Equivalent annual savings