1. Wonderful is looking at a new system with an installed cost of RM438,000. This cost will be depreciated straight-line to zero over the project's four-year life, at the end of which the sausage system can be scrapped for RM69,000. The sausage system will save the firm RM129,000 per year in pre-tax operating costs, and the system requires an initial investment in net working capital of RM29,000, which will be recouped at project end. If the tax rate is 35 percent and the discount rate is 9 percent, what is the NPV of this project?