A small industrial machine costs $114,000 and is expected to earn annual net cash inflows of $50,200, $45,600, $41,000 and $36,500, before it wears out sufficiently to be unreliable and must be sold for an estimated $11,400.

(a)

If funds earn 12 per cent, what is its NPV?(Round answer to 0 decimal places, e.g. 1,525.)