DataPoint Engineering is considering the purchase of a new piece of equipment for $200,000. It has an eight-year midpoint of its asset depreciation range (ADR). It will require an additional initial investment of $100,000 in nondepreciable working capital. Twenty-five thousand dollars of this investment will be recovered after the sixth year and will provide additional cash flow for that year. Income before depreciation and taxes for the next six are shown in the following table. Use Table 1211, Table 1212. Use Appendix B for an approximate answer but calculate your final answer using the formula and financial calculator methods.

Year	Amount
1	$	173,000
2		152,000
3		122,000
4		107,000
5		91,000
6		81,000

The tax rate is 35 percent. The cost of capital must be computed based on the following:

		Cost (aftertax)			Weights
Debt	Kd		5.50	%		25	%
Preferred stock	Kp		9.20			5
Common equity (retained earnings)	Ke		14.00			70

d-1. Determine the net present value. (Use the WACC from part c rounded to 2 decimal places as a percent as the cost of capital (e.g., 12.34%). Do not round any other intermediate calculations. Round your answer to 2 decimal places.)