A $350,000 capital investment proposal has an estimated life of four years and no residual value. The estimated net cash flows are as follows:

year net cash flow

1 150000

2 130000

3 104000

4 90000

The minimum desired rate of return for net present value analysis is 12%. The present value of $1 at compound interest of 12% for 1, 2, 3, and 4 years is 0.893, 0.797, 0.712, and 0.636, respectively. Determine the net present value