Aristotle Biotechnology is investing in new manufacturing equipment to produce a vaccine that will cost it $500,000 and it will be fully depreciated straight line over 5 years. The new equipment will...

Aristotle Biotechnology is investing in new manufacturing equipment to produce a vaccine that will cost it $500,000 and it will be fully depreciated straight line over 5 years.  The new equipment will have no value after 5 years.   The new equipment will save Aristotle 150,000 per year in expenses, it has no impact on revenue.  Aristotle can also sell the old vaccine producing equipment, which has been fully depreciated, for $200,000 now.  Aristotle Biotechnology opportunity cost of capital is 12% and marginal tax rate is 21%.

What is the net present value (NPV) of purchasing the new equipment?

(Round your answer to 2 decimal places)