Callaghan Company is considering investing in two new vans that are expected to generate combined cash inflows of $34,500 per year. The vans combined purchase price is $97,000. The expected life and salvage value of each are five years and $21,200, respectively. Callaghan has an average cost of capital of 12 percent. (PV of $1andPVA of $1)(Use appropriate factor(s) from the tables provided.)

Required

a.	Calculate the net present value of the investment opportunity.(Negative amount should be indicated by a minus sign. Round intermediate calculationsand final answer to 2 decimal places.)