Dunay Corporation is considering investing $740,000 in a project. The life of the project would be 11 years. The project would require additional working capital of $24,000, which would be released for use elsewhere at the end of the project. The annual net cash inflows would be $158,000. The salvage value of the assets used in the project would be $34,000. The company uses a discount rate of 18%. (Ignore income taxes.)

Click here to view Exhibit 11B-1 and Exhibit 11B-2, to determine the appropriate discount factor(s) using tables.

Required:

Compute the net present value of the project. (Negative amount should be indicated by a minus sign.