Renegade Industries is considering the purchase of a new machine for the production of latex. Machine A costs $3.09 million and will last for six years. Variable costs are 32% of sales, and fixed costs are $1,987,522 per year. Machine B costs $4.93 million and will last for nine years. Variable costs for this machine are 21% of sales and fixed costs are $1,350,735 per year. The sales for each machine will be $6.4 million per year. The required return is 12 %, and the tax rate is 38%. Both machines will be depreciated to zero on a straight-line basis. Each project will require an increase in inventory of $373,613, an increase in accounts receivable of $723,406, and an increase in accounts payable of $365,677. Assume a salvage value of $713,222 for both machines.

Calculate the NPV for machine A. (Round answer to 2 decimal places. Do not round intermediate calculations)