Geary Machine Shop is considering a four-year project to improve its production efficiency. Buying a new machine press for $950,400 is estimated to result in $316,800 in annual pretax cost savings. The press falls in the MACRS five-year class (MACRS Table), and it will have a salvage value at the end of the project of $138,600. The press also requires an initial investment in spare parts Inventory of $39,600, along with an additional $5,940 in inventory for each succeeding year of the project. Required: If the shop's tax rate is 31 percent and its discount rate is 15 percent, what is the NPV for this project? (Do not round your intermediate calculations.) $-83741.37 $-80,367.66 $-177717.61 $-87.928.44 $-79,554.30 eBook & Resources eBook: 106. Some Special Cases of Discounted Cash Flow Analysis