DON Corp. is contemplating the purchase of a machine that will produce net after-tax cash savings of $31,000 per year for five years. At the end of five years, the machine can be sold to realize after-tax cash flows of $6,100. Interest is 10%. Assume the cash flows occur at the end of each year. (FV of $1, PV of $1, FVA of $1, PVA of $1, FVAD of $1 and PVAD of $1) (Use appropriate factor(s) from the tables provided.)

Required:

Calculate the total present value of the cash savings. (Do not round intermediate calculations.)

TOTAL PRESENT VALUE:___________________