Sibble Corporation is considering the purchase of a machine that would cost $380,000 and would last for 6 years. At the end of 6 years, the machine would have a salvage value of $52,000. By reducing labor and other operating costs, the machine would provide annual cost savings of $80,000. The company requires a minimum pretax return of 11% on all investment projects. The net present value of the proposed project is closest to?