Dynamic - Problem and answer changes with each attempt (consider an Excel solution)

Monet, Incorporated, is considering the purchase of a machine that would cost $ 562,029 and would last for 6 years, at the end of which, the machine would have a salvage value of $ 67,279. The machine would reduce labor and other costs by $ 121,965 per year. Additional working capital of $ 10,774 would be needed immediately, all of which would be recovered at the end of 6 years. The company requires a minimum pretax return of 0.10 on all investment projects. (Ignore income taxes.)

Click here to view Exhibit 14B-1 and Exhibit 14B-2, to determine the appropriate discount factor(s) using the tables provided.

or Use Excel NPV formula.

Required:

Determine the net present value of the project. (Negative amount should be indicated by a minus sign. Round your intermediate calculations and final answer to the nearest whole dollar amount.)