QUESTION $8$

A manufacturing facility uses machine with an efficiency of $\backslash (81\backslash \%\backslash )$ for its operations. This machine is being replaced by a new high$-$efficiency model that has an efficiency of $\backslash (93\backslash \%\backslash ).$ The machine runs with a power of $77$ kW and operates for $5403$ hours each year at a load factor of $0\mathrm{.}7.$ Given that the cost of electricity is $\backslash (\backslash$$ $0\mathrm{.}12\backslash )$ per kilowatt$-$hour $($kWh$),$ calculate the cost savings from installing the high$-$efficiency model instead of the standard model. Write your answer in $\backslash (\backslash$$ $/\backslash )$ year with $2$ decimal figures.