You are the head of finance department in XYZ Company. You are considering adding a new machine to your production facility. The new machines base price is $10,000.00, and it would cost another $2,250.00 to install it. The machine falls into the MACRS 3-year class (the applicable MACRS depreciation rates are 33.33%, 44.45%, 14.81%, and 7.41%), and it would be sold after three years for $2,450.00. The machine would require an increase in net working capital (inventory) of $880.00. The new machine would not change revenues, but it is expected to save the firm $30,145.00 per year in before-tax operating costs, mainly labor. XYZ's marginal tax rate is 35.00%. If the project's cost of capital is 16.00%, what is the NPV of the project? Round your answer to two decimal places. For example, if your answer is $345.667 round as 345.67 and if your answer is .05718 or 5.718% round as 5.72.