Hayden’s Recreation Center purchased an asset for $240,000 that has $30,000 residual value and a seven-year life. Hayden’s effective income tax rate is 40 percent, and Hayden uses the straight-line depreciation method for income tax reporting purposes. Calculate Hayden’s annual tax savings from the depreciation tax shield. (Round your answer to the nearest whole dollar; do NOT include the dollar ($) sign.)

Hayden’s Recreation Center purchased an asset for $240,000 that has $30,000 residual value and a seven-year life. Hayden’s effective income tax rate is 40 percent, and Hayden uses the straight-line depreciation method for income tax reporting purposes. Calculate Hayden’s annual tax savings from the depreciation tax shield. (Round your answer to the nearest whole dollar; do NOT include the dollar ($) sign.)