Tanaka Machine Shop is considering a four$-$year project to improve its production efficiency. Buying a new machine press for $$411,000$ is estimated to result in $$152,000$ in annual pretax cost savings. The press falls in the MACRS five$-$year class $($MACRS schedule$)$ and it will have a salvage value at the end of the project of $$53,000.$ The press also requires an initial investment in spare parts inventory of $$15,800,$ along with an additional $$2,800$ in inventory for each succeeding year of the project. The shop's tax rate is $23$ percent and its discount rate is $10$ percent. Calculate the project's NPV$.$

Note: Do not round intermediate calculations and round your answer to $2$ decimal places, e$.$g$.,32\mathrm{.}16.$

$\backslash$table$[[$Net present value,$$,11,051\mathrm{.}03$

Table $9\mathrm{.}7$ Modified ACRS depreciation allowances

$\backslash$table$[[$Year$,$Property Class$],[3-$Year,$5-$Year,$7-$Year$],[1,33\mathrm{.}33\%,28\mathrm{.}09\%,14\mathrm{.}29\%$