$1$ Dog Up$!$ Franks is looking at a new sausage system with an installed cost of $$470,000.$

This cost will be depreciated straight$-$line to zero over the project's five$-$year life, at the

end of which the sausage system can be scrapped for $$63,000.$ The sausage system will

save the firm $$144,000$ per year in pretax operating costs, and the system requires an

initial investment in net working capital of $$27,500.$ If the tax rate is $23$ percent and the

discount rate is $11$ percent, what is the NPV of this project? DO NOT USE ANY EXCEL. Use the NPV formula and financial calculator calculations in order to solve this.