A company is considering buying a new machine for one of its factories. The cost of the machine is $60,000 and its expected life span is 5 years. The machine will save the cost of a worker estimated at $22,500 annually. The book value of the machine at the end of year 5 is $10,000 but the company estimates that the market value will be only $5,000. Calculate the NPV of the machine if the discount rate is 12% and the tax rate is 30%. Assume straight-line depreciation over the 5-year life of the machine. (Hint: at the end of year 5, the salvage value is 5000 and the book value is 10000. So there is a tax credit of (10000 - 5000) *30% at the end of year 5.)