A six-year contract requires an immediate outlay of $47,000 followed by additional outlays of $10,000 in years two and three. Beginning in year two, the contract estimates returns of $18,000 per year for six years with a residual value of $5000 at the end of seven years. If the required rate of return is 11%, what is the NPV? If your answer is negative, be sure to place a (-) sign before the number.