Daniel's Theme Park is a family favorite destination. To keep up with other theme parks, Daniel is thinking of investing in a new piece of equipment. The cost savings from the equipment would result in an annual increase in cash flow of $105,000. The equipment will have an initial cost of $488,000 and have a 5-year life. The salvage value of the equipment is estimated to be $76,000. If the hurdle rate is 8%, what is the approximate net present value? Ignore income taxes. (Future Value of $1, Present Value of $1, Future Value Annuity of $1, Present Value Annuity of $1.) (Use appropriate factor from the PV tables. Round your final answer to the nearest dollar amount.)

• Positive $76,000

• Zero

• Negative $17,041

• Positive $488,000