HoldernessInc. has provided the following data concerning a proposed investment project: (Ignore income taxes.)

Initial investment$200,000Life of the project8 yearsAnnual net cash inflows$37,000Salvage value$27,000

The company uses a discount rate of 8%.

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. Round discount factor(s) to 3 decimal places, intermediate and final answers to the nearest dollar amount.)

Net Present value: ???