Lakeside Incorporated is considering replacing oid production equipment with state-of-the-art technology that will allow production cost savings of $10,000 per month. The new equipment will have a five-year life and cost $420,000, with an estimated salvage value of $30,000. Lakeside's cost of capital is 8%. Table 6-4 and Table 6-5. Required: Calculate the net present value of the new production equipment. Note: Use approprlate factor(s) from the tables provlded. Round the PV factors to 4 decimals. Round your final answer to nearest whole dollars