Denny $$ssociates has been offered a four$-$year contract to supply the computing requirements for a local bank.

$\backslash$table$[[$Cash flow information$],[$Cost of computer equipment,$250,000],[$Working capital required,$20,000],[$Upgrading of equipment in $2$ years,$90,000],[$Salvage value of equipment in $4$ years,$10,000],[$Annual netcash inflow,$120,000]]$

The working capital would be released at the end

$,$ of the contract.

$\%$ Denny Associates requizes a $14\%$ return$|$

What is the net present value of the contract with the local bank?