I'm having a tough time figuring out this homework problem. I've been pretty good with the finance questions so far, but have gotten myself lost. I'm looking not just for the answer, but an explanation on the steps to reach the solution. Thanks!

Dog Up! Franks is looking at a new sausage system with an installed cost of $540,000. This cost will be depreciated straight-line to zero over the projects five-year life, at the end of which the sausage system can be scrapped for $80,000. The sausage system will save the firm $170,000 per year in pretax operating costs, and the system requires an initial investment in net working capital of $29,000. If the tax rate is 34 percent and the discount rate is 10 percent, what is the NPV of this project?