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Steamboat Springs Furniture, Inc., is considering purchasing a new finishing lathe that costs $64,473.00. The lathe will generate revenues of $99,675.00 per year for five

Steamboat Springs Furniture, Inc., is considering purchasing a new finishing lathe that costs $64,473.00. The lathe will generate revenues of $99,675.00 per year for five years. The cost of materials and labor needed to generate these revenues will total $50,983.00 per year, and other cash expenses will be $11,389.00 per year. The machine is expected to sell for $9,250.00 at the end of its five-year life and will be depreciated on a straight-line basis over five years to zero. Steamboat Springs' marginal tax rate is 36.00 percent, and its cost of capital is 13.00 percent. What is the NPV of the project?

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