A company is considering a project that would require the purchase of an asset for $700,000. The company expects the project to generate cost savings. Assume the following: PVCCATS = $175,000; Present Value of Salvage Value = $35,000; Present Value of After-tax Savings = $525,000. What is the NPV for this project?

Do not round intermediate calculations. Round the final answer to 2 decimal places. Omit any commas and the $ sign in your response. For example, an answer of $1,000.50 should be entered as 1000.50.