#10. A company is looking at a new manufacturing process with cost savings. The PPE will cost $385,000. The cost will be depreciated straight-line to zero over the projects five-year life, at the end of which the PPE can be scrapped for $60,000. The new manufacturing process will save the firm $135,000 per year in pretax operating costs, and the system requires an initial investment in working capital of $35,000. If the tax rate is 21% and the discount rate is 10%, what is the NPV of the project?