Kinky Copies may buy a high-volume copier. The machine costs $110,000 and will be depreciated straight-line over 5 years to a salvage value of $20,000. Kinky anticipates that the machine actually can be sold in 5 years for $28,000. The machine will save $20,000 a year in labor costs but will require an increase in working capital, mainly paper supplies, of $10,000. The firms marginal tax rate is 35%, and the discount rate is 5%. (Assume the net working capital will be recovered at the end of Year 5.)

What is the NPV of this project? (Negative amount should be indicated by a minus sign. Do not round intermediate calculations. Round your answer to 2 decimal places.)