Sibble Corporation is considering the purchase of a machine that would cost $280,000 and would last for 5 years. At the end of 5 years, the machine would have a salvage value of $45,000. By reducing labor and other operating costs, the machine would provide annual cost savings of $70,000. The company requires a minimum pretax return of 12% on all investment projects. The net present value of the proposed project is closest to: (Round your NPV to nearest dollar.)