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

$$540,000$ is estimated to result in $$225,000$ in annual pretax cost savings. The press falls in the MACRS five$-$year class, and it will have

a salvage value at the end of the project of $$91,000.$ Refer to Table $8\mathrm{.}3.$ The press also requires an initial investment in spare parts

inventory of $$27,000,$ along with an additional $$3,200$ in inventory for each succeeding year of the project. The shop's tax rate is $22$

percent and the project's required return is $8$ percent. Calculate the NPV of this project.

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

Answer is complete but not entirely correct.