Solve the below problem:
Q: Syringe pumps often fail because reagents adhere to the ceramic piston and deteriorate the seal. Trident Chemical developed an integrated polymer dynamic seal that provides a higher sealing force on the sealing lip, resulting in extended seal life. One of Tridents customers expects to reduce downtime by 14% as a result of the new seal design. If lost production would have cost the company $360000 per year for the next 13 years, how much could the company afford to spend now on the new seals, if it uses an interest rate of 7% per year?