A project has an initial outlay of $1,985. The project will generate annual cash flows of $414 over the 6 -year life of the project and terminal cash flows of $265 in the last year of the project. If the required rate of return on the project is 12%, what is the net present value (NPV) of the project? Note: Enter your answer rounded off to two decimal points. Do not enter $ or comma in the answer box