The treasurer of Kelly Bottling Company $($a corporation$)$ currently has $$240,000$ invested in preferred stock yielding $8$ percent. He appreciates the tax advantages of preferred stock and is considering buying $$240,000$ more with borrowed funds. The cost of the borrowed funds is $10$ percent. He suggests this proposal to his board of directors. They are somewhat concerned by the fact that the treasurer will be paying $2$ percent more for funds than the company will be earning on the investment. Kelly Bottling is in a $34$ percent tax bracket, with dividends taxed at $15$ percent.

Compute the amount of the aftertax income from the additional preferred stock if it is purchased.