Masters Machine Shop is considering a four$-$year project to improve its production efficiency. Buying a new machine press for $$998,400$ is estimated to result in $$332,800$ in annual pretax cost savings. The press falls in the MACRS five$-$year class $($MACRS Table$),$ and it will have a salvage value at the end of the project of $$145,600.$ The press also requires an initial investment in spare parts inventory of $$41,600,$ along with an additional $$6,240$ in inventory for each succeeding year of the project.

If the shop's tax rate is $25$ percent and its discount rate is $15$ percent, what is the NPV for this project?

Multiple Choice

$$-68,307\mathrm{.}06$

$$-64,762\mathrm{.}96$

$$-166,105\mathrm{.}96$

$$-71,722\mathrm{.}42$

$$-64,891\mathrm{.}71$