Bt3RZ Company is considering an investment project that has the following information available: Initial investment .................... ? Annual cost savings ................... $ 63,900 Repair needed in four years ........... $ 17,500 Working capital needed now ............ $ 42,000 Life of project ....................... 7 years Cost of capital ....................... 14% The working capital needed now will be released for investment elsewhere at the end of the project. The net present value of this investment was calculated to be $22,976. Calculate the amount of the initial investment.