Moates Corporation has provided the following data concerning an investment project that it is considering:

Initial investment	$	380,000
Annual cash flow	$	133,000	per year
Expected life of the project		4	years
Discount rate		13	%

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

The net present value of the project is closest to: (Round your intermediate calculations and final answer to the nearest whole dollar amount.)

Multiple Choice

• $15,542

• $380,000

• $(247,000)

• $(15,542)