4. Capital Budgeting 6 Masters Machine Shop is considering a four-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 MACRS five-year 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) Calculate the NPV of this project. (Do not round intermediate calculations and round your answer to 2 decimal places, e.g. 32.16.) NPV Should the company buy and install the machine press? Yes