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Tanaka Machine Shop is considering a four - year project to improve its production efficiency. Buying a new machine press for $ 4 1 9

Tanaka Machine Shop is considering a four-year project to improve its production efficiency. Buying a new machine press for $419,000 is estimated to result in $156,000 in annual pretax cost savings. The press qualifies for 100 percent bonus depreciation and it will have a salvage value at the end of the project of $57,000. The press also requires an initial investment in spare parts inventory of $16,200, along with an additional $3,200 in inventory for each succeeding year of the project. The shop's tax rate is 22 percent and its discount rate is 9 percent. Calculate the project's NPV.
Note: Do not round intermediate calculations and round your answer to 2 decimal places, e.g.,32.16.
NPV
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