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

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.)