Toronto Food Services is considering installing a new refrigeration system that will cost $600,000. The system will be depreciated at a rate of 20% (Class 8 ) per year over the system's ten-year life and then it will be sold for $90,000. The new system will save $180,000 per year in pre-tax operating costs. An initial investment of \$70,000 will have to be made in working capital. The tax rate is 35% and the discount rate is 10\%. Calculate the NPV of the new refrigeration