Tanaka Machine Shop is considering a four-year project to Improve its production efficlency. Buying a new machine press for $403,000 is estimated to result in $148,000 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 $49,000. The press also requires an initlal investment In spare parts inventory of $15,400, along with an additional $2,400 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 Intermedlate calculatlons and round your answer to 2 declmal places, e.g., 3216