A company is considering purchasing equipment that will require an immediate outlay of $80,000. Over the equipment's 11-year life, it will provide the cash benefits shown below. If the company's rate of return is 12% compounded annually, calculate the net present value (NPV) of the proposed purchase, and determine whether the purchase should be made according to the net present value criterion. Year 1 to Year 6 $22,000 per year Year 7 to Year 11 $11,000 per year The net present value of the project is $ (Round the final answer to the nearest dollar as needed. Round all intermediate values to six decimal places as needed.)