Marsha Jones has bought a used Mercedes horse transporter for her Connecticut estate. It cost $51,000. The object is to save on horse transporter rentals.

Marsha had been renting a transporter every other week for $216 per day plus $1.80 per mile. Most of the trips are 80 or 100 miles in total. Marsha usually gives the driver, Joe Laminitis, a $45 tip. With the new transporter she will only have to pay for diesel fuel and maintenance, at about $0.61 per mile. Insurance costs for Marshas transporter are $2,000 per year.

The transporter will probably be worth $31,000 (in real terms) after eight years, when Marshas horse Spike, will be ready to retire. Assume a nominal discount rate of 9% and a 4% forecasted inflation rate. Marshas transporter is a personal outlay, not a business or financial investment, so taxes can be ignored.

Calculate the NPV of the investment.

Note: Do not round intermediate calculations. Round your answer to the nearest whole dollar amount.

p.s. Answer is not $33,830 or $9,073.