Carper Company is considering a capital investment of $374,000 in additional productive facilities. The new machinery is expected to have useful life of 6 years with no salvage value. Depreciation is by the straight-line method. During the life of the investment, annual net income and net annual cash flows are expected to be $20,570 and $85,000, respectively. Carper has an 7% cost of capital rate, which is the required rate of return on the investment.

Using the discounted cash flow technique, compute the net present value. (Round present value factor calculations to 5 decimal places, e.g. 1.25124 and the final answer to 2 decimal places e.g. 589.71.)

Net present value

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