(Ignore income taxes in this problem.) Farah Corporation has provided the following data concerning a proposed investment project:

Initial investment		$	800,000
Life of the project			8 years
Working capital required		$	32,000
Annual net cash inflows		$	160,000
Salvage value		$	116,000

The company uses a discount rate of 11%. The working capital would be released at the end of the project.

Required:

Compute the net present value of the project. (Round "PV Factor" to 3 decimal places. Round your other intermediate calculations and final answers to the nearest whole dollar.)(Use Exhibit 11B-1, Exhibit 11B-2)

Net present value

$