Tanaka Machine shop is considering a four$-$year project to improve its production efficiency. Buying a new machine press for $$403,000$ is estimated to result in $$148,000$ 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 $$46,000.$ The press also requires an initial investment in spare parts inventory of $$15,400$ along with an additional $$2,400$ in inventory for each succeeding year of the project. The shop$$s tax rate is $21$ percent and its discount rate is $8$ percent. Calculate the project's NPV$.$

Please do not use Excel to calculate.