Although the Chen Company's milling machine is old, it is still in relatively good working order and would last for another $10$ years. It is inefficient compared to modern standards, though, and so the company is considering replacing it$.$ The new milling machine, at a cost of $$110,000$ delivered and installed, would also last for $10$ years and would produce after$-$tax cash flows $($labor savings and depreciation tax savings$)$ of $$19,800$ per year. It would have zero salvage value at the end of its life. The project cost of capital is $12\%,$ and its marginal tax rate is $25\%.$ Should Chen buy the new machine? Do not round intermediate calculations. Round your answer to the nearest cent. Negative value, if any, should be indicated by a minus sign.

NPV: $

Chen

$-$Select$-$

purchase the new machine