Geller Machine Shop is considering a four$-$year project to improve its production

efficiency. Buying a new machine press for $$420,000$ is estimated to result in $$165,000$

in annual pretax cost savings. The press falls in the MACRS five$-$year class, and it will

have a salvage value at the end of the project of $$71,000.$ The press also requires an

initial investment in spare parts inventory of $$15,000,$ along with an additional $$2,000$ in

inventory for each succeeding year of the project. The shop's tax rate is $25$ percent and

the project's required return is $9$ percent. Refer to Table $8\mathrm{.}3.$

Calculate the NPV of this project. $($Do not round intermediate calculations and round

your answer to $2$ decimal places, e$.$g$.,32\mathrm{.}16.)$

NPV