Joanette, Inc., is considering the purchase of a machine that would cost $450,000 and would last for 5 years, at the end of which, the machine would have a salvage value of $55,000. The machine would reduce labor and other costs by $115,000 per year. Additional working capital of $9,000 would be needed immediately, all of which would be recovered at the end of 5 years. The company requires a minimum pretax return of 13% on all investment projects. (Ignore income taxes.) Click here to view Exhibit 7B-1 and Exhibit 7B-2 to determine the appropriate discount factor(s) using the tables provided. Required: Determine the net present value of the project. (Negative amount should be indicated by a minus sign. Round your intermediate calculations and final answer to the nearest whole dollar amount.) Net present value