NPV for varying costs of capital LePew Cosmetics is evaluating a new fragrance-mixing machine. The machine requires an initial investment of $ 320,000 and will generate after-tax cash inflows of $ 63,050 per year for 8 years. If the cost of capital is 11%, 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.)