Tanaka Machine Shop is considering a four-year project to improve its production efficiency. Buying a new machine press for $413,000 is estimated to result in $153,000 in annual pretax cost savings. The press falls in the MACRS five-year class (MACRS cchadule) and it will have a salvage value at the end of the project of $54,000. The press also requires an initial investment in spare parts inventory of $15,900, along with an additional $2,900 in inventory for each succeeding year of the project. The shop's tax rate is 24 percent and its discount rate is 11 percent. Calculate the project's NPV. Note: Do not round intermediate calculations and round your answer to 2 decimal ploces, e.9., 32.16