Following is information on an investment in a manufacturing machine. The machine has zero salvage value. The company requires a 3% return from its investments.

Initial investment	$ (320,000)
Net cash flows:
Year 1	135,000
Year 2	134,000
Year 3	121,000

Assume that instead of a zero salvage value, as shown above, the machine has a salvage value of $23,000 at the end of its three-year life. Compute the machine's net present value. (PV of $1, FV of $1, PVA of $1, and FVA of $1)

Note: Use appropriate factor(s) from the tables provided. Round all present value factors to 4 decimal places. Round present value amounts to the nearest dollar.

	Net Cash Flows	Present Value Factor	Present Value of Net Cash Flows
Year 1
Year 2
Year 3
Year 3 salvage value
Totals
Initial investment
Net present value