Purple Haze Machine Shop is considering a four year project to improve its pro

Purple Haze Machine Shop is considering a four year project to improve its production efficiency. Buying a new machine press for $440000 is estimated to resul
tin $175000 in annual pre tax cost savings. The press falls in the MACRS five-year class and it will have a salvage value at the end of the project of
$75000. The press also requires an initial investment in spare parts inventory of $17000 along with an additional $2200 in inventory for each succeeding
year of the project. The shops tax rate is 30 percent and its discount rate is 8 percent. Refer to table 10.7 Caluculate the NPV of this project. (Do not round intermediate calculations and round your final answer to 2 decimal places) NPV?