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Sibble Corporation is considering the purchase of a machine that would cost $450,000 and would last for 5 years. At the end of 5 years, the machine would have a salvage value of $62,000. By reducing labor and other operating costs, the machine would provide annual cost savings of $89,000. The company requires a minimum pretax return of 12% on all investment projects. The net present value of the proposed project is closest to

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