Apex Corp. is planning to buy production machinery costing $100,000. This machinery's expected useful life is five years, with no residual value. Apex uses a discount rate of 10% and has calculated the following data pertaining to the purchase and operation of this machinery:

Year Estimated annual net cash inflow

1 $60,000

2 30,000

3 20,000

4 20,000

5 20,000

The net present value is closest to: