Byron Corp is considering the purchase of a new piece of equipment. The cost savings from the equipment would result in an annual increase in cash flow of $$100,000.$ The equipment will have an initial cost of $$400,000$ and have a $5$ year life. The salvage value of the equipment is estimated to be $$75,000.$ If the hurdle rate is $15\%,$ what is the approximate net present value? Ignore income taxes.