You are considering the purchase of a new machine for a project. Details of this potential purchase are provided below. -The project life is 3 years. The machine costs $228,000. * You will pay cash for half of this machine immediately, and will borrow the remaining half at 6% annual rate compounded annually over 3 years. * The machine will be depreciated using a seven year MACRS approach. Annual O&M costs (expenses) of the machine are $23,000. Annual labor savings (revenues) are $137,000. Salvage value at the end of year 3 will be $68,500. Working capital requirement is initially $25,000. Any investment in working capital will be recovered at the end of the project. Assume an income tax rate and gains tax rate of 21%. Find the NPW of this project based on a MARR of 12%