Tanaka Machine Shop is considering a four$-$year project to improve its production efficiency. Buying a new machine press for $$415,000$

is estimated to result in $$154,000$ in annual pretax cost savings. The press falls in the MACRS five$-$year class $($MACRS schedule$)$ and it

will have a salvage value at the end of the project of $$55,000.$ The press also requires an initial investment in spare parts inventory of

$$16,000,$ along with an additional $$3,000$ in inventory for each succeeding year of the project. The shop's tax rate is $25$ percent and its

discount rate is $12$ percent. Calculate the project's NPV$.$

Note: Do not round intermediate calculations and round your answer to $2$ decimal places, e$.$g$.,32\mathrm{.}16.$

Find Net present value