A contract is estimated to yield net annual returns of $\backslash (\backslash$$ $31,000\backslash )$ for seven years. To secure the contract, an immediate outlay of $\backslash (\backslash$$ $150,000\backslash )$ is required. Interest is $\backslash (11\backslash \%\backslash )$ 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 $\backslash (\backslash$$ $\backslash )($Round the final answer to the nearest dollar as needed. Round all intermediate values to six decimal places as needed.$)$ Should the project be accepted or rejected?