You have been asked by the president of your company to evaluate the proposed acquisition of a new special-purpose machine. The machine's cost is $960,000. The machine falls into the MACRS three-year class, and it will be sold after three years for $120,000. (Year 1 = 33%, Year 2 = 45%, Year 3 = 15%, Year 4 = 7%) Use of the machine will require an increase in net working capital of $52,000, which will be recovered in three years when the machine is sold. The machine will increase revenues by $500,000 and costs by $100,000 for the next three years. Your company has a tax rate of 20% and a required return of 8%. Find the NPV.