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Costs associated with the manufacture of miniature high-sensitivity piezoresistive pressure transducers is $74,000 per year....

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Finance

Costs associated with the manufacture of miniature high-sensitivity piezoresistive pressure transducers is $74,000 per year. A clever industrial engineer found that by spending $18,000 now to reconfigure the production line and reprogram two of the robotic arms, the cost will go down to $55,000 next year and $58,000 in years 2 through 5. Using an interest rate of 13% per year, determine the present worth of the savings due to the reconfiguration.

The present worth of the savings is determined to be $_______

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