Mercy Motors owns a small engine repair shop. The company is trying to determine whether or not they should update the shop. To modernize the shop, Mercy estimates will require $350,000 in new machines and equipment and $120,000 in building improvements. The building was purchased in 1961 for $48,000. Since then, $329,000 worth of improvements have been added to create the existing structure, which is currently valued at $380,000. What is the opportunity cost of modernizing the shop?