Franco is considering the purchase of new equipment. To begin the project, the equipment costs $320,000, and an additional $130,000 is needed to install it. An inventory investment cost of $74,000 is also required for the project. The equipment will be depreciated straight-line to zero over a five-year life. The equipment will generate additional annual revenues of $280,000, and it will have annual cash operating expenses of $87,000. The equipment will be sold for $80,000 after five years. Franco is in the 30 percent tax bracket and its cost of capital is 12 percent. What is the terminal year after-tax cash flow from the recovery of working capital?