A current asset? (defender) is being evaluated for potential replacement. It was purchased four years ago at a cost of ?$65,000. It has been depreciated as a MACRS? (GDS) five-year? property-class asset. The corresponding depreciation rates? are: 20%,? 32%, 19.2%,? 11.52%, 11.52% and? 5.76%. The present MV of the defender is ?$11,000. Its remaining useful life is estimated to be four? years, but it will require additional repair work now? (a one-time ?$4,000 ?expense) to provide continuing service equivalent to the challenger. The current effective income tax rate is 39?%, and the? after-tax MARR=10?% per year. Based on an outsider? viewpoint, what is the? after-tax initial investment in the defender if it is kept? (not replaced? now)?

The total? after-tax investment in the defender is $________?