Massey Machine Shop is considering a four$-$year project to improve its production efficiency. Buying a

new machine press for $$640,000$ is estimated to result in $$270,000$ in annual pretax cost savings. The press

falls in the MACRS five$-$year class, and it will have a salvage value at the end of the project of $$70,000.$ The

press also requires an initial investment in spare parts inventory of $$20,000,$ along with an additional $$3,500$

in inventory for each succeeding year of the project. If the shop$$s tax rate is $35$ percent and its discount rate

is $14$ percent, should Massey buy and install the machine press?