Your company is considering a four-year project to improve its production efficiency. Buying a new machine press for $560,000 is estimated to result in $210,000 in annual pretax cost savings. The press falls in the MACRS five-year class, and it will have a salvage value at the end of the project of $80,000. The press also requires an initial investment in spare parts inventory of $20,000, along with an additional $3,000 in inventory for each succeeding year of the project. If the companys tax rate is 35 percent and its discount rate is 9 percent, should the company buy and install the machine press? MACRS Rates: 20%, 32%, 19.20%, 11.52%. Show your answer in detailed calculations no excel