MTM Inc., is considering the purchase of a new machine that will reduce manufacturing costs by $$16,000$ annually. MTM will use the straight$-$line method to depreciate the machine over its five$-$year life, and the IRS requires the firm to apply a salvage value of $$12,000$ to the machine for tax purposes. The firm expects to be able to reduce working capital by $$15,000$ when the machine is installed. The firm's marginal tax rate is $34\%$ and it uses a $12\%$ cost of capital to evaluate projects of this nature. If the machine costs $$60,000,$ what is the NPV of this purchase decision?