Pools & Spas is thinking about buying a cutting-edge equipment for its pool manufacturing business for four years. This equipment will allow the company to Improve the efficiency of its pool manufacturing. The new equipment would cost $385,000. The company is hoping that buying this pool equipment would result in $145,000 in pre-tax cost savings every year. This equipment would be depreciated according to the MACRS five-year property class. The company believes that the market value of the equipment at the end of the project will be $45,000. The company would also need to immediately Invest in spare parts Inventory and cash in the total amount of $20,000. On top of that, the project will require additional $3,100 total In cash and Inventory in each succeeding year of this pool equipment project. The corporate tax rate of this company is 22 percent. The annual rate of return appropriate for projects of this level of risk is 9 percent. For this problem you will need to use Table 10.7. Calculate the Net Present Value of this project. (Do not round your Intermediate calculations and only round your final answer to 2 decimal places, e.g., 32.16.) NPV Should the company buy and Install the equipment? O Yes No