The Campbell Company is considering adding a robotic paint sprayer to its production line. The sprayers base price is $952,000, and it would cost another $15,000 to install it. The machine falls into the MACRS 3-year class, and it would be sold after 3 years for $507,000. The MACRS rates for the first three years are 0.3333, 0.4445, and 0.1481. The machine would require an increase in net working capital (inventory) of $15,500. The sprayer would not change revenues, but it is expected to save the firm $302,000 per year in before-tax operating costs, mainly labor. Campbells marginal tax rate is 28%.

What is the NPV of the project? Round your solution to one decimal in thousands of dollars, i.e. you would enter $123,456.78 as 123.5

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