Tanaka Machine Shop is considering a four$-$year project to improve its production efficiency. Buying a new machine press for $$460,000$ is estimated to result in $$190,000$ 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 $$74,000.($MACRS schedule$)$ The press also requires an initial investment in spare parts inventory of $$35,000,$ along with an additional $$3,850$ in inventory for each succeeding year of the project. The shop$$s tax rate is $25$ percent and its discount rate is $8$ percent. Calculate the NPV of this project. $($Do not round intermediate calculations and round your answer to $2$ decimal places, e$.$g$.,32\mathrm{.}16.)$

Should the company buy and install the machine press?