Problem 6-14 NPV and Bonus Depreciation Tanaka Machine Shop is considering a 4-year project to improve its production efficiency. Buying a new machine press for $475,000 is estimated to result in $199.000 in annual pretax cost savings. The press qualifies for 100 percent bonus depreciation, and it will have a salvage value at the end of the project of $72,000. The press also requires an initial investment in spare parts inventory of $38.000, along with an additional $4,000 in inventory for each succeeding year of the project. The shop's tax rate is 23 percent and its discount rate is 10 percent Calculate the NPV of this project: (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) Should the company buy and install the machine press