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 $151,000. * You will pay cash for half of this machine immediately, and will borrow the remaining half at 8.3% 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 $19,000. Annual labor savings (revenues) are $107,000. Salvage value at the end of year 3 will be $53,500. Working capital requirement is initially $33,000. Any investment in working capital will be recovered at the end of the project. Assume an income tax rate and gains tax rate of 38%. Find the NPW of this project based on a MARR of 16.9%