Masters Machine Shop is considering a four$-$year project to improve its production efficiency. Buying a new machine press for $$691,200$ is estimated to result in $$230,400$ 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 $$100,800.$ The press also requires an initial investment in spare parts inventory of $$28,800,$ along with an additional $$4,320$ in inventory for each succeeding year of the project.

If the shop's tax rate is $24$ percent and its discount rate is $11$ percent, what is the NPV for this project?

Multiple Choice

$$18,400\mathrm{.}67$

$$20,420\mathrm{.}36$

$$-59,483\mathrm{.}37$

$$19,320\mathrm{.}70$

$$17,480\mathrm{.}63$