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

Initial investment	$	360,000
Life of the project		11 years
Annual net cash inflows	$	53,000
Salvage value	$	43,000

The company uses a discount rate of 8%.

Click here to view Exhibit 13B-1 and Exhibit 13B-2 to determine the appropriate discount factor(s) using tables.

Required:

Compute the net present value of the project.

Please show work. Thank you!