A manufacturing company is considering upgrading an existing machine. The cost of the new machine is 950,000 TL and the installation cost is 50,000 dollars. The current machine is sold for $ 200,000 before tax today. The current machine, bought 3 years ago, has a $ 200,000 book value and a 2-year useful life. If it is held for two more years, the market value will be 0 TL at the end of the second year. The new machine has a lifetime of 5 years and the company is expected to reduce operating costs by $ 250.00 per year. The new machine will be available for $ 220,000 after 5 years, but the company will pay a $ 50,000 shipping fee for this sale. An investment of $ 20,000 is required in net working capital to support activities if new machinery is purchased. The firm's capital cost is assumed to be 16% and tax rates 20%.

Calculate the net present value of the proposed investment. (NPV)?