Deep Mines Ltd$.$ of Saskatchewan is contemplating the purchase of equipment to exploit a mineral deposit located on land to which the company has mineral rights. An engineering and cost analysis has been made, and it is expected that the following cash flows would be associated with opening and operating a mine$$in$$the$$area: Cost of new equipment and timbers $232000$ working capital required $83,000$ net annual cash receipts, $106000$ coast to construct new roads in three years $38,000$ salvage value of equipment in four years $50,000*$ receipts from sales of ore, less out of pocket, cost for salaries, utilities insurance, and so forth. It is estimated that the mineral deposit would be exhausted after four years of mining. At that point the working capital would be released for reinvestment elsewhere. The companies discount rate is $20\%.$ Required: determine the NPV of the proposed mining project. negative amount should be indicated with a minus sign.

Round discount factors to three decimal places. Round other intermediate calculation and final answer to the nearest whole number find out the net present value second question should the project$$be$$accepted