Dynamic $-$ Problem and answer changes with each attempt $($consider an Excel solution$)$

Monet, Incorporated, is considering the purchase of a machine that would cost $$501,127$ and would last for $6$ years, at the end of which, the machine would have a salvage value of $$64,090.$ The machine would reduce labor and other costs by $$124,095$ per year. Additional working capital of $$14,855$ would be needed immediately, all of which would be recovered at the end of $6$ years. The company requires a minimum pretax return of $0\mathrm{.}11$ on all investment projects. $($Ignore income taxes.$)$

or Use Excel NPV formula.

Required:

Determine the net present value of the project. $($Negative amount should be indicated by a minus sign. Round your intermediate calculations and final answer to the nearest whole dollar amount.$)$