Ilana Industries Incorporated needs a new lathe. It can buy a new high$-$speed lathe for $$1\mathrm{.}1$ million. The lathe will cost $$46,000$ per year

to run, but it will save the firm $$137,000$ in labor costs and will be useful for $10$ years. Suppose that, for tax purposes, the lathe is

entitled to $100\%$ bonus depreciation. At the end of the $10$ years, the lathe can be sold for $$190,000.$ The discount rate is $10\%,$ and the

corporate tax rate is $21\%.$ What is the NPV of buying the new lathe?

Note: A negative amount should be indicated by a minus sign. Enter your answer in dollars not in millions. Do not round

intermediate calculations. Round your answer to $2$ decimal places.

NPV