Vaccine INC is investing in new equipment to produce a vaccine that will cost it $500,000. It can also sell the old vaccine producing equipment, which has been fully depreciated, for $200,000. The new equipment will last for five year and save Vaccine INC $150,000 per year in before tax expenses. The new equipment will be fully depreciated using 5 year straight line depreciation methodology. Vaccine INC opportunity cost of capital is 12% and marginal tax rate is 21%.

What is the net present value (NPV) of purchasing the new equipment?