CSM Machine Shop is considering a four-year project to improve its production efficiency. Buying a new machine press for $496,000 is estimated to result in $195,000 in annual pretax cost savings. The press falls in the MACRS five-year class (MACRS Table), and it will have a salvage value at the end of the project. The shop's tax rate is 30 percent and its discount rate is 12 percent. Calculate the NPV. Should the company buy and install the machine press