Silver Bear Golf (SBG) is a manufacturer of top quality golf clubs with a specialty of putters. Currently, each putter they sell brings in $230 of revenue at a cost of $160. This past year, they sold 1,000 putters and they expect this number to grow each year by 10.5% until this model becomes obsolete after 12 more years. The foreman at the SBG factory recently brought to your attention a new technology that could lower the cost of production. This technology requires an upfront fixed investment of $159,000 and has the capacity to produce all the putters you want to sell per year at a unit cost of $133. There is no increased working capital need due to this new technology, and no value of the machine/technology after 12 years. What is the NPV of investing in the new technology? Ignore taxes and assume a discount rate of 11.0%.

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