Management of TSC, Inc. is evaluating a new $77,000 investment with the following estimated cash flows:

Year Cash Flow:

Year 1: 9,000

Year 2: 30,000

Year 3: 45,000

Year 4: 67,000

The firms cost of capital is 7 percent and the project will require that the firm spend $26,000 to terminate the project. Use a minus sign to enter a negative value, if any. Round your answer to the nearest dollar.

The NPV of the investment is $ .