On your co-op assignment, your boss has asked you to analyze whether a more efficient motor with a life of 7 years should be installed on an assembly line. Estimated energy savings for the first year is $14,000 and then decrease by 5% annually. To pay for this motor, your company would need to withdraw money from an account paying 6% APR compounded annually. Your boss wants you to make the following recommendation: What is the maximum amount money you will recommend that your company be willing to pay for this new motor.