J&J is considering an investment project that will produce an operating cash flow of $302,000 a year for three years. The initial cash outlay for equipment will be $615,000. The equipment can be sold for $149,333 at the end of the project. The project requires $70,000 of net working capital that will be fully recovered. The tax rate is 25%. What is the net present value of the project if the required rate of return is 14 percent?