A $400,000 capital investment proposal has an estimated life of four years and no residual value. The estimated net cash flows are as follows:

A $400,000 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 $200,000 150,000 2 3 90,000 80,000 4 The minimum desired rate of return for net present value analysis is 12%. The present value of $1 at compound interest of 12% for Years 1 through 4 is 0.893, 0.797, 0.712, and 0.636, respectively. Determine the net present value. $