Dickerson Co. is evaluating a project requiring a capital expenditure of $610,000. The project has an estimated life of 4 years and no salvage value. The estimated net income and net cash flow from the project are as follows:

Year	Net Income	Net Cash Flow
1	$ 75,000	$280,000
2	100,000	300,000
3	109,000	200,000
4	36,000	120,000
	$320,000	$900,000

The company's minimum desired rate of return is 12%. The present value of $1 at compound interest of 12% for 1, 2, 3, and 4 years is 0.893, 0.797, 0.712, and 0.636, respectively. Determine the net present value.