Seikos current salary is $85,500. Her marginal tax rate is 32 percent, and she fancies European sports cars. She purchases a new auto each year. Seiko is currently a manager for Idaho Office Supply, Inc. Her friend, knowing of her interest in sports cars, tells her about a manager position at the local BMW and Porsche dealer. The new position pays only $72,000 per year, but it allows employees to purchase one new car per year at a discount of $16,600. This discount qualifies as a nontaxable fringe benefit. In an effort to keep Seiko as an employee, Idaho Office Supply, Inc. offers her a $7,500 raise. Answer the following questions about this analysis. rev: 10_09_2020_QC_CS-234055 Problem 12-41 Part c (Algo)

c. What salary would Seiko need to receive from Idaho Office Supply, Inc. to make her financially indifferent (after taxes) between receiving additional salary from Idaho Office Supply and accepting a position at the auto dealership?