Bryson's Beets is considering a new capital investment project. They can invest $47,000 and generate cash flows of $11,000 each year at the end of the next 5 years.

Calculate the Net Present Value for the project using a Cost of Capital of 4%. IMPORTANT: For full credit, round your answer to two decimal points and label it (Examples: $11,234.78, 11.23%, 11.23:1)