Purple Haze Machine Shop is considering a four-year project to improve its production efficiency. Buying a new machine press for $532,467 is estimated to result in some amount of annual pretax cost savings. The press will have an aftertax salvage value at the end of the project of $85,266. The OCFs of the project during the 4 years are $171,025, $193,056, $173,259 and $160,109, respectively. The press also requires an initial investment in spare parts inventory of $22,888, along with an additional $2,457 in inventory for each succeeding year of the project. The shop's discount rate is 6 percent. What is the NPV for this project?