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Masters Machine Shop is considering a four - year project to improve its production efficiency. Buying a new machine press for $ 3 9 5

Masters Machine Shop is considering a four-year project to
improve its production efficiency. Buying a new machine press for
$395,000 is estimated to result in $151,000 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 $51,000. The
press also requires an initial investment in spare parts inventory
of $22,000, along with an additional $3,200 in inventory for each
succeeding year of the project. The shops tax rate is 22 percent
and its discount rate is 9 percent.(MACRS schedule)Calculate the NPV of this project.(Do not round
intermediate calculations and round your answer to 2 decimal
places, e.g.,32.16.)

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