Tanaka Machine Shop is considering a four$-$year project to improve its production efficiency. Buying a new machine press for $$427,000$ is estimated to result in $$160,000$ 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 $$61,000.$ The press also requires an initial investment in spare parts inventory of $$16,600,$ along with an additional $$3,600$ in inventory for each succeeding year of the project. The shop$$s tax rate is $21$ percent and its discount rate is $8$ percent. Calculate the project's NPV$.$

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