Masters Machine Shop is considering a four-year project to improve its production efficiency. Buying a new machine press for $796,800 is estimated to result in $265,600 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 $116,200. The press also requires an initial investment in spare parts inventory of $33,200, along with an additional $4,980 in inventory for each succeeding year of the project. If the shop's tax rate is 23 percent and its discount rate is 9 percent, what is the NPV for this project? Multiple Choice $64,992.56 $67,014.54 $31,411.37 $68,242.19 $61,742.93 Property Class \begin{tabular}{|cccc|} \hline Year & Three-Year & Five-Year & Seven-Year \\ \hline 1 & 33.33% & 20.00% & 14.29% \\ 2 & 44.45 & 32.00 & 24.49 \\ 3 & 14.81 & 19.20 & 17.49 \\ 4 & 7.41 & 11.52 & 12.49 \\ 5 & & 11.52 & 8.93 \\ 6 & & 5.76 & 8.92 \\ 7 & & & 8.93 \\ 8 & & & 4.46 \\ \hline \end{tabular}