Information for two alternative projects involving machinery investments follows. Project 1 requires an initial investment of $140,000. Project 2 requires an initial investment of $90,000. Assume the company requires a 10% rate of return on its investments. (PV of $1, FV of $1, PVA of $1, and FVA of $1) (Use appropriate factor(s) from the tables provided.)

Annual Amounts	Project 1	Project 2
Sales of new product	$ 100,000	$ 80,000
Expenses
Materials, labor, and overhead (except depreciation)	64,000	35,000
DepreciationMachinery	20,000	18,000
Selling, general, and administrative expenses	8,000	20,000
Income	$ 8,000	$ 7,000

Compute the net present value of each potential investment. Use 7 years for Project 1 and 5 years for Project 2. Assume cash flows occur evenly throughout each year. Ignore the salvage value. (Negative net present values should be indicated with a minus sign. Round your present value factor to 4 decimals. Round your answers to the nearest whole dollar.)