Juliar Inc. has provided the following data concerning a proposed investment project: (Ignore income taxes.) Initial investment $ 310,000 Life of the project 11 years Annual net cash inflows $ 48,000 Salvage value $ 38,000 The company uses a discount rate of 9%.

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. (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. Omit the "$" sign in your response.)

Net present value $ =?