A new electronic process monitor costs

$$990,000.$ This cost could be

depreciated at $30\%$ per year $($Class $10).$

The monitor would actually be

worthless in five years. The new

monitor would save $$460,000$ per year

before taxes and operating costs. If we

require a $15\%$ return, what is the NPV of

the purchase? Assume a tax rate of

$40\%.($Do not round intermediate

calculations. Round the final answer

to $2$ decimal places. Omit $ sign in

your response.$)$

NPV $