CSM Machine Shop is considering a four-year project to improve its production efficiency. Buying a new machine press for $403,000 is estimated to result in $148,000 in annual pretax cost savings. The press is eligible for 100 percent bonus depreciation and it will have a salvage value at the end of the project of $49,000. The press also requires an initial investment in spare parts inventory of $15,400, along with an additional $2,400 in inventory for each succeeding year of the project. The shops tax rate is 24 percent and its discount rate is 11 percent. Calculate the project's NPV. (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)