Taylor Company is considering the purchase of a new machine. The machinewill cost $225,000 and is expected to last for 9 years. However, themachine will need maintenance costing $25,000 at the end of year fourand maintenance costing $30,000 at the end of year eight. In addition,purchasing this machine would require an immediate investment of $26,000in working capital which would be released for investment elsewhere atthe end of the 9 years. The machine is expected to have a $15,000 salvagevalue at the end of 9 years. The machine will be used to generate net cashinflows of $60,000 per year in each of the 9 years. Taylor Company has acost of capital of 10% and an income tax rate of 40%.Calculate the net present value (NPV) of this machine.