Fortuna company wants to buy a new oven with an estimated useful life of four years. The purchase price of the oven is $88,000. The estimated recurring annual operating savings is $36,000. Estimated proceeds from disposal of equipment at the end of useful life is $8,000. The after-tax RRR is 12%, income tax rate is 40%, the CCA rate for this class of assets is 20%. Calculate the NPV.

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