Tom is considering replacing a machine in your factory. The current machine cost $400,000 six years ago. It is being depreciated for tax purposes on a straight-line basis over its ten year life. The old machine can be sold today for $80,000 or be worthless in four years. The new machine would cost $500,000 and it would depreciate straight line to zero over four years. If the new machine is purchased, it would be operated for four years and then sold for $90,000. He is considering the new machine because it would result in labor savings of $ 170,000 per year. If he purchases the new machine, net working capital requirements will increase by $25,000 because of the need for additional spare parts. If his tax rate is 35% and his cost of capital is 10% per year, what is the net present value of purchasing the new machine, in thousands of dollars