Frsent Valve of $1:1 HB 7h-2 Present Value of an Annaity of $1 in Arreans; 71[1(1+f)21] Joanette, Incorporated, is considering the purchase of a machine that would cost $610,000 and would last for 7 years, at the end of which, the machine would have a salvage value of $61,000. The machine would reduce labor and other costs by $121,000 per year, Additional working capital of $7,000 would be needed immediately, all of which would be recovered at the end of 7 years. The company requires a minimum pretax return of 11% on all investment projects. (Ignore income taxes.) Click here to view Exhibit 781 and Exbibit 782, to determine the appropriate discount factor(s) using the tables provided. Required: Determine the net present value of the project. Note: Negative amount should be indicated by a minus sign. Round your intermediate calculations and final answer to the nearest whole dollar amount