A project will produce operating cash flows of $58,000 a year for 4 years. During the life of the project, inventory will be lowered by $8,000 and accounts receivable will increase by $20,000. Accounts payable will decrease by $5,000. The project requires the purchase of equipment at an initial cost of $125,000. The equipment will be salvaged at the end of the project creating a $19,500 after-tax cash inflow. At the end of the project, net working capital will return to its normal level. What is the net present value of this project given a required return of 14%?