$21.$ Tanaka Machine Shop is considering a four$-$year project to improve its production efficiency. Buying a new machine press for $$445,000$ is estimated to result in $$160,000$ 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 $$40,000.$ The press also requires an initial investment in spare parts inventory of $$20,000,$ along with an additional $$2,800$ in inventory for each succeeding year of the project. If the shop's tax rate is $22$ percent and its discount rate is $9$ percent, should the company buy and install the machine press?