NPV for varying costs of capital LePew Cosmetics is evaluating a new fragrance-mixing machine. The machine requires an initial investment of $340,000 and will generate after-tax cash inflows of $62,250 per year for 8 years. If the cost of capital is 12%, calculate the net present value (NPV) and indicate whether to accept or reject the machine. The NPV of the project is $. (Round to the nearest cent.)