Warmack Machine Shop is considering a four-year project to improve its production efficiency. Buying a new machine press for $510,000 is estimated to result in $210,000 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 $86,000. The press also requires an initial investment in spare parts inventory of $24,000, along with an additional $2,900 in inventory for each succeeding year of the project. The shops tax rate is 30 percent and its discount rate is 8 percent.

Calculate the NPV of this project.

So far I have the following calcuation but it is marking it as incorrect.

I also tried using the inventory cost as an expense. Also marked incorrect. See below.