Ted owns a small engine repair shop. He is trying to determine whether or not he should update the shop or sell it. To modernize the shop, he will have to invest $287,000 in new equipment and spend another $79,000 for building improvements. The building was purchased 30 years ago for $39,000. Since then, $104,000 of improvements have been made to create the existing structure, which is now valued at $349,000. What is the opportunity cost of modernizing the shop?