Ilana Industries Incorporated needs a new lathe. It can buy a new high$-$speed lathe for $$1\mathrm{.}6$ million. The lathe will cost $$41,000$ per year to run, but it will save the firm $$156,000$ in labor costs and will be useful for $10$ years. Suppose that, for tax purposes, the lathe is entitled to $100\%$ bonus depreciation. At the end of the $10$ years, the lathe can be sold for $$450,000.$ The discount rate is $10\%,$ and the corporate tax rate is $21\%.$ What is the NPV of buying the new lathe?