M.T. Glass, Inc. is considering the acquisition of a new piece of heavy machinery to replace an old, outdated machine currently used in its business operations. The new machine would cost $180,000 and is expected to last 9 years. The new machine would require a repair of $25,000 in year seven and another repair costing $8,000 in year eight. In addition, purchasing this new machine would require an immediate investment of $30,000 in working capital which would be released for investment elsewhere at the end of the 9 years. The machine is expected to have a $10,000 salvage value at the end of 9 years. The old, outdated machine costs $160,000 per year to maintain and run. The new machine is only expected to cost $90,000 per year to maintain and run. M.T. Glass has a cost of capital of 16% and an income tax rate of 40%. Calculate the net present value (NPV) of the new machine. If your answer is negative, place a minus sign in front of your answer with no spaces in between (e.g., -1234). Do not use decimals in your answer.

Using the tables below

Present Value of a Lump-Sum

	Rate of interest per period in percent
Periods	3%	5%	8%	9%	10%	12%	14%	15%	16%	20%
1	0.9709	0.9524	0.9259	0.9174	0.9091	0.8929	0.8772	0.8696	0.8621	0.8333
2	0.9426	0.9070	0.8573	0.8417	0.8265	0.7972	0.7695	0.7561	0.7432	0.6944
3	0.9151	0.8638	0.7938	0.7722	0.7513	0.7118	0.6750	0.6575	0.6407	0.5787
4	0.8885	0.8227	0.7350	0.7084	0.6830	0.6355	0.5921	0.5718	0.5523	0.4823
5	0.8626	0.7835	0.6806	0.6499	0.6209	0.5674	0.5194	0.4972	0.4761	0.4019
6	0.8375	0.7462	0.6311	0.5963	0.5645	0.5066	0.4556	0.4323	0.4104	0.3349
7	0.8131	0.7107	0.5835	0.5470	0.5132	0.4523	0.3996	0.3759	0.3538	0.2791
8	0.7894	0.6768	0.5403	0.5019	0.4665	0.4039	0.3506	0.3269	0.3050	0.2326
9	0.7664	0.6446	0.5003	0.4604	0.4241	0.3606	0.3075	0.2843	0.2630	0.1938
10	0.7441	0.6139	0.4632	0.4224	0.3855	0.3220	0.2697	0.2472	0.2267	0.1615
12	0.7014	0.5568	0.3971	0.3555	0.3186	0.2567	0.2076	0.1869	0.1685	0.1122
15	0.6419	0.4810	0.3152	0.2745	0.2394	0.1827	0.1401	0.1229	0.1079	0.0649
16	0.6232	0.4581	0.2919	0.2519	0.2176	0.1631	0.1229	0.1069	0.0930	0.0541
17	0.6050	0.4363	0.2703	0.2311	0.1978	0.1456	0.1078	0.0929	0.0802	0.0471
18	0.5874	0.4155	0.2503	0.2120	0.1799	0.1300	0.0946	0.0808	0.0691	0.0376
19	0.5703	0.3957	0.2317	0.1945	0.1635	0.1161	0.0829	0.0703	0.0596	0.0313
20	0.5537	0.3769	0.2146	0.1784	0.1486	0.1037	0.0728	0.0611	0.0514	0.0261
21	0.5375	0.3589	0.1987	0.1637	0.1351	0.0926	0.0638	0.0531	0.0443	0.0217
24	0.4920	0.3101	0.1577	0.1264	0.1015	0.0659	0.0431	0.0349	0.0284	0.0126
25	0.4776	0.2953	0.1460	0.1160	0.0923	0.0588	0.0378	0.0304	0.0245	0.0105

Present Value of Annuity Table

Periods	3%	5%	8%	9%	10%	12%	14%	15%	16%	20%
1	0.9709	0.9524	0.9259	0.9174	0.9091	0.8929	0.8772	0.8696	0.8621	0.8333
2	1.9135	1.8594	1.7833	1.7591	1.7355	1.6901	1.6467	1.6257	1.6052	1.5278
3	2.8286	2.7233	2.5771	2.5313	2.4869	2.4018	2.3216	2.2832	2.2459	2.1065
4	3.7171	3.5460	3.3121	3.2397	3.1699	3.0374	2.9137	2.8550	2.7982	2.5887
5	4.5797	4.3295	3.9927	3.8897	3.7908	3.6048	3.4331	3.3522	3.2743	2.9906
6	5.4172	5.0757	4.6229	4.4859	4.3553	4.1114	3.8887	3.7845	3.6847	3.3255
7	6.2303	5.7864	5.2064	5.0330	4.8684	4.5638	4.2883	4.1604	4.0386	3.6046
8	7.0197	6.4632	5.7466	5.5348	5.3349	4.9676	4.6389	4.4873	4.3436	3.8372
9	7.7861	7.1078	6.2469	5.9953	5.7590	5.3283	4.9464	4.7716	4.6065	4.0310
10	8.5302	7.7217	6.7101	6.4177	6.1446	5.6502	5.2161	5.0188	4.8332	4.1925
12	9.9540	8.8633	7.5361	7.1607	6.8137	6.1944	5.6603	5.4206	5.1971	4.4392
15	11.9379	10.3797	8.5595	8.0607	7.6061	6.8109	6.1422	5.8474	5.5755	4.6755
16	12.5611	10.8378	8.8514	8.3126	7.8237	6.9740	6.2651	5.9542	5.6685	4.7296
17	13.1661	11.2741	9.1216	8.5436	8.0215	7.1196	6.3729	6.0472	5.7487	4.7746
18	13.7535	11.6896	9.3719	8.7556	8.2014	7.2497	6.4674	6.1280	5.8178	4.8122
19	14.3238	12.0853	9.6036	8.9501	8.3649	7.3658	6.5504	6.1982	5.8775	4.8435
20	14.8775	12.4622	9.8182	9.1286	8.5135	7.4694	6.6231	6.2593	5.9288	4.8696
21	15.4150	12.8212	10.0168	9.2922	8.6487	7.5620	6.6870	6.3125	5.9731	4.8913
25	17.4132	14.0939	10.6748	9.8226	9.0770	7.8431	6.8729	6.4641	6.0971	4.9476