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CSM Machine Shop is considering a 4 yr project to improve its production efficiency

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CSM Machine Shop is considering a 4 yr project to improve its production efficiency. Buying a new machine press for $403,000 is estimated to result in $148,000 in annual pretax cost savings. The press is eligible for 100% bonus depreciation & it will havesalvage vale at end of project of $49,000. The press also requires an initial investment in spare parts inventory of $15,400, along with an additional $2,400 in inventory for each succeeding year of project. The shop's tax rate is 24% and its discount rate is 11%. Calculate the project's NPV.

Please show how to solve in excel. Thank you!