use the given information to solve this question. show work

Bellingshausen, Inc., is considering the purchase of a machine that would cost $525,000 and would last for 8 years, at the end of which, the machine would have a salvage value of $3,500 The machine would reduce labor and other costs by $95,000 per year, while adding $65,600 in depreciation expense. Additional working capital of $25,000 would be needed immediately, all of which would be recovered at the end of 8 years. The company requires a minimum pretax return of 9% on all investment projects. Required: Determine the net present value of the project. Show your work! TABLE 4 Present Value of an Annuity of 1 (a)