The Park Avenue Corporation currently makes a part required in its finished product. The company uses 2,116 units of this part annually. Park Avenue Corp has been approached by a vendor to provide this part for $13.04 each. The following cost information is provided

Direct Materials per unit	$6.34
Direct Labor per unit	$7.30
Variable Factory Overhead per unit	$2.50
Fixed Factory Overhead per unit	$7.50

How much would Park Avenue Corporation save by having the vendor make the part, instead of making it themselves?