An automated handling device in a resin processing plant is being considered to replace 3 manual material conveyors. Each of the conveyors makes $20,000/year and the employee benefit costs are 25% of the wages. Annual maintenance costs and property taxes (paid to the city and county) are together estimated to be 10% of the cost of the equipment. Using an after-tax analysis determine the maximum that the company should pay for this equipment. MACRS depreciation is used, and the equipment is a 3- year MACRS property. The tax-rate (federal and state) is 40%. An after-tax MARR of 10% is used by the company, and the device has a useful equipment life of 4 years with no salvage value. Annual wages are given as $20,000 per worker.