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Dickinson Brothers, Inc., is considering investing in a machine to produce computer keyboards. The price of the machine will be $2,100,000, and its economic life

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Dickinson Brothers, Inc., is considering investing in a machine to produce computer keyboards. The price of the machine will be $2,100,000, and its economic life is five years. The machine will be fully depreciated by the straight-line method. The machine will produce 29,000 keyboards each year. The price of each keyboard will be $74 in the first year and will increase by 4 percent per year. The production cost per keyboard will be $37 in the first year and will increase by 6 percent per year. The project will have an annual fixed cost of $325,000 and require an immediate investment of $290,000 in net working capital. The corporate tax rate for the company is 23 percent. The appropriate discount rate is 9 percent. What is the NPV of the investment? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) NPV

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