Chauhan Restaurant is considering the purchase of a souffl maker that costs $8,600. The souffl maker has an economic life of five years and will be fully depreciated by the straight-line method. The machine will produce 1,100 souffls per year, with each costing $2.15 to make and priced at $5.95. The discount rate is 14 percent and the tax rate is 21 percent.

What is the NPV of the project? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)

Should the company purchase?

Yes/ No