A robotic spot welding machine has been proposed to replace the current manual operation. Savings associated with the robotic welder include increased productivity, decreased defects and reduction mechanic repetitive motion injuries. The estimated net savings are expected to be $80,000 per year. The cost of the robatic spot welder is $220,000 and it is expected to have a salvage value of \$50000 at the end of its life in 7 years . If your company's MARR 15%, what is the Present Worth of the proposed robotic welder?