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Please help me find the NPV to the first part of this question rounded to the nearest 2 decimal places. My answer is wrong. Do

image text in transcribedimage text in transcribedPlease help me find the NPV to the first part of this question rounded to the nearest 2 decimal places. My answer is wrong. Do not round intermediate calculations.

Masters Machine Shop is considering a four-year project to improve its production efficiency. Buying a new machine press for $440,000 is estimated to result in $178,000 in annual pretax cost savings. The press falls in the MACRS five-year class, and it will have a salvage value at the end of the project of $72,000. The press also requires arn initial investment in spare parts inventory of $31,000, along with an additional $3,650 in inventory for each succeeding year of the project. The shop's tax rate is 21 percent and its discount rate is 12 percent. (MACRS schedule) Calculate the NPV of this project. (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) NPV 65,846.67 Should the company buy and install the machine press? Yes No

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