The owner of a small factory has decided to replace two 40kW AC motors with new high-efficiency motors, costing R8,000 each. The motors run for 6,000 hours each year at three quarters of their load. The old motors each have an efficiency of 86%, while the new high-efficiency motors have a 90% efficiency. 2.1 What would the annual savings be as a result of installing the high-efficiency motors if electricity costs 132c/kWh? Be sure to show your calculations