Harvest Fields is considering expanding its wine-making operations. The expansion will require new equipment costing $473,000 that would be depreciated on a straight-line basis to a zero balance over the 7-year life of the project. The estimated salvage value is $161,000. The project requires $71,000 initially for net working capital, all of which will be recouped at the end of the project. The projected operating cash flow is $182,000 a year. What is the net present value of this project if the relevant discount rate is 17.7 percent and the tax rate is 30.2 percent?