Masters Machine Shop is considering a four year project to improve its production efficiency. Buying a new machine press for $385,000 is estimated to result in $145,000 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 $45,000. The press also requires an initial investment in spare parts inventory of $20,000, along with an additional $3,100 in inventory for each succeeding year of the project. The shop's tax rate is 22 percent and its discount rate is 9 percent Refer to Table 10.7 Calculate the NPV of this project. (Do not round intermediate calculations and round your answer to 2 decimal places, e... 32.16.) NPV Should the company buy and install the machine press?! Yes No