Fairbanks Inc. is trying to decide whether or not to revise its popular game system. It has estimated that the revision will cost $250,000. Cash flows will be 50,000 for year. These cash flows are expected to increase by 8% per year. The new system will be produced for the next 6 years. Assume that the initial cost is paid now and incremental cash flows are received at the end of each year. Assume a discount rate of 11%, calculate the present value of the incremental cash flows ignoring the initial cost. (Round to 2 decimals) Fairbanks Inc. is trying to decide whether or not to revise its popular game system. It has estimated that the revision will cost $250,000. Cash flows will be 50,000 for the year. These cash flows are expected to increase by 8% per year. The new system will be produced for the next 6 years. Assume that the initial cost is paid now and incremental cash flows are received at the end of each year. Assume a discount rate of 11%, calculate the net present value of the project. (Round to 2 decimals)