CSM Machine Shop is considering a four-year project to improve its production efficiency. Buying a new machine press for $419,000 is estimated to result in $156,000 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 of $57,000. The press also requires an initial investment in spare parts inventory of $16,200, along with an additional $3,200 in inventory for each succeeding year of the project. The shop's tax! rate is 22 percent and its discount rate is 9 percent. Calculate the project's NPV. (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) Net present value Property Class 5-Year Year 3-Year 7-Year 33.33% 44.45 14.81 7.41 00 VOU AWN- 20.00% 32.00 19.20 11.52 11.52 5.76 14.29% 24.49 17.49 12.49 8.93 8.92 8.93 4.46