Question: A new machine cost $47,000. The machine will be depreciated on a straight-line basis over 5 years to a salvage value of $1,000. The machine

A new machine cost $47,000. The machine will be depreciated on a straight-line basis over 5 years to a salvage value of $1,000. The machine will be sold 5 years from now for $16,000. The machine will provide $19,000 per year in savings for 5 years and will require net working capital investment of $4,000. The tax rate is 15% and the discount rate is 12%.

Find the NPV of the project. Round your answer to the nearest dollar.

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