If Haversham Technologies purchases $351,800 of new equipment, they can lower annual operating costs by $106,700. The equipment will be depreciated straight-line to a zero book value over its 5-year life. Ignore bonus depreciation. At the end of the project, the equipment will be sold for $58,000. The company must invest $32,800 in Net Working Capital during the project. What is the NPV if the discount rate is 9 percent and the tax rate is 21 percent?

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