Du Monde Corp is considering the purchase of 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 $430,000 and have a 5 year life. The salvage value of the equipment is estimated to be $82,000. If the hurdle rate is 10%, what is the approximate net present value? Ignore income taxes. Refer the Table 2and Table 4. (Round your PV factors to 4 decimal places and final answer to the nearest dollar amount.)

	$18,948
	$(31,966)
	$105,000
	$187,000