CCNY, Inc. is considering the acquistition of a new left-handed press. The base price of the press is indicated below. In addition there are modification costs, noted below, for CCNY's special use. The press falls into the MACRS 3-year class. The new press is expected to speed up production and result in an increase in gross annual sales and an increase in annual variable costs as noted below. Inventories, accounts payable, and accounts receivable are all expected to increase (as noted) to support the heightened activity. The press is expected to be sold after three years for the given salvage value. The tax rate and appropriate discount rate are noted. Find the NPV of this project and indicate if the press should be purchased.
									Base Price		$3,863,822	modification costs		$45,720	Variable cost increase		$1,371,600
									Gross Sales increase		$2,743,200	Salvage Value		$1,152,572	Accounts receivable change		$205,740
									Inventory Change		$54,864	Accounts payable change		$283,464	Discount rate		12%
															Tax rate		30%
									NPV			Purchase (yes or no)