A company is considering a project that would require the purchase of an asset for $110,000. The asset belongs in a 20% CCA class and is expected to have no salvage value at the end of the 3-year project. The project would require a networking capital Investment of $22,000 up-front. The company has a tax rate of 25% and a required return of 12%. The project is expected to generate annual pre-tax cost savings of $49.000. What is the expected present value of after-tax savings for this project