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 Gross Sales increase Inventory Change $3,858,622 modification costs $2,737,800 Salvage Value $54,756 Accounts payable change $45,630 $1,151,497 $282,906 Variable cost increase Accounts receivable change Discount rate Tax rate $1,368,900 $205,335 12% 30% Base Price Gross Sales increase Inventory Change $3,858,622 modification costs $2,737,800 Salvage Value $54,756 Accounts payable change $45,630 $1,151,497 $282,906 Variable cost increase Accounts receivable change Discount rate Tax rate $1,368,900 $205,335 12% 30%