T-Shirt By Design is considering the purchase of a new printing press to be used over the next three years. The press has a base price of $900,000. The machine has a five year useful life and the firm plans to depreciate the machine using straight line depreciation over the useful life. T-Shirt By Design plans to sell the machine at the end of the project (i.e. end of year three) for an estimated salvage value of $400,000. The press would require an initial increase in working capital (mainly t-shirts) of $16,000. Due to inflation, these working capital needs would then increase 10% each year. The press is expected to save the firm $430,000 in before tax operating costs each year. T-Shirt By Design's tax rate and WACC are 35% and 12%, respectively. The risk free rate is 6%. Should the press be purchased? Simply answering yes or no receives no credit.