2 Starset Machine Shop is considering a 4-year project to improve its production efficiency. Buying a new machine press for $480,000 is estimated to result in $202,000 in annual pretax cost savings. The press falls in the 5-year MACRS class, and it will have a salvage value at the end of the project of $73,000. The press also requires an initial investment in spare parts inventory of $39,000, along with an additional $4,050 in inventory for each succeeding year of the project. The shop's tax rate is 24 percent and its discount rate is 9 percent. (MACRS schedule) 33.33 points Calculate the NPV of this project. (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) eBook References NPV Should the company buy and install the machine press? O Yes O No