ABC plc is planning to buy a machine which will cost 900,000 and which is expected to generate new cash sales of 600,000 per year. The expected useful life of the machine will be 8 years, at the end of which it will have no scrap value. Annual costs are expected to be 400,000 per year. Assume ABC plc has a cost of capital of 10% per annum. Calculate the net present value of buying this machine