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Minimum annual savings problem

XYZ Company is interested in purchasing a new corporate jet for $6 million. This will depreciate the jet completely in 5 years and then sell it for $5 million. The jet will utilize $60,000 in fuel annually, and its maintenance will be $40,000 yearly. The tax rate of XYZ is 35% and it utilizes 10% as discount rate. Determine the minimum annual savings produced by the jet to defend its purchase.

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