A company is evaluating the feasibility of investing in machinery to manufacture an automotive component. It would need to make an investment of $540,000 today, after which, it would have to spend $7,500 every year starting one year from now, for twelve years. At the end of the period, the machine would have a salvage value of $10,000. The company confirmed that it can produce and sell 7,100 components every year for twelve years and the net return would be $11.50 per component. The company's required rate of return is 5.00%.

a. What is the Net Present Value (NPV) of this investment option?