Burry Inc. has provided the following data to be used in evaluating a proposed investment project:

Initial investment	$630,000
Annual cash receipts	$553,000
Life of the project	8 years
Annual cash expenses	$330,000
Salvage value	$65,000
Tax rate	40%

For tax purposes, the entire initial investment without any reduction for salvage value will be depreciated over 6 years. The company uses a discount rate of 7%.

Click here to view Exhibit 13B-1 and Exhibit 13B-2 to determine the appropriate discount factor(s) using tables. The net present value of the project is closest to: (Round discount factor(s) to 3 decimal places,

intermediate and final answer to the nearest dollar amount.