Masters Machine Shop is considering a four$-$year project to

improve its production efficiency. Buying a new machine press for

$$395,000$ is estimated to result in $$151,000$ in annual pretax cost

savings. The press falls in the MACRS five$-$year class, and it will

have a salvage value at the end of the project of $$51,000.$ The

press also requires an initial investment in spare parts inventory

of $$22,000,$ along with an additional $$3,200$ in inventory for each

succeeding year of the project. The shop$$s tax rate is $22$ percent

and its discount rate is $9$ percent.$($MACRS schedule$)$Calculate the NPV of this project.$($Do not round

intermediate calculations and round your answer to $2$ decimal

places, e$.$g$.,32\mathrm{.}16.)$