A project has estimated annual cash flows of $95,000 for four years and is estimated to cost $260,000. Assume a minimum acceptable rate of return for 12%. Using the following tables determine the net present value of the project.

Below is a table for the present value of $1 at compund interest.

Year	6%	10%	12%
1	.943	.909	.893
2	.890	.826	.797
3	.840	.751	.712
4	.792	.683	.636
5	.747	.621	.567

Below is a table for the present value of an annuity of $1 at compound interest.

Year	6%	10%	12%
1	.943	.909	.893
2	1.833	1.736	1.690
3	2.673	2.487	2.402
4	3.465	3.170	3.037
5	4.212	3.791	3.605

Net present value of project ______________________________________