Geary Machine Shop is considering a four-year project to improve its production efficiency. Buying a new machine press for $844,800 is estimated to...

Geary Machine Shop is considering a four-year project to improve its production efficiency. Buying a new machine press for $844,800 is estimated to result in $281,600 in annual pretax cost savings. The press falls in the MACRS five-year class (MACRS Table), and it will have a salvage value at the end of the project of $123,200. The press also requires an initial investment in spare parts inventory of $35,200, along with an additional $5,280 in inventory for each succeeding year of the project.

Required :If the shop's tax rate is 35 percent and its discount rate is 17 percent, what is the NPV for this project? (Do not round your intermediate calculations.)

$-119,020.37

$-115,806.77

$-197,474.13

$-124,971.38

$-113,069.35