A contract is estimated to yield net annual returns of $$31,500$ for eight years. To secure the contract, an immediate outlay of $$155,000$ is required. Interest is $12\%$ compounded annually.

Calculate the net present value $($NPV$)$ of the contract and determine whether the project should be accepted or rejected according to the net present value criterion.

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.$)$