Oakmont Company has an opportunity to manufacture and sell a new product for a four-year period. The companys discount rate is 17%. After careful study, Oakmont estimated the following costs and revenues for the new product:

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value: 2.50 points Oakmont Company has an opportunity to manufacture and sell a new product for a four-year period. The company's discount rate is 17%. After careful study, Oakmont estimated the following costs and revenues for the new product Cost of equipment needed $225,000 80,000 Working capital needed 7,000 Overhaul of the equipment in two years Salvage value of the equipment in four years 10,000 Annual revenues and costs: Sales revenues $360,000 $175,000 Variable expenses 81,000 Fixed out-ofpocket operating costs When the project concludes in four years the working capital will be released for investment elsewhere within the company. Click here to view Exhibit 13B-1and Exhibit 13B-2, to determine the appropriate discount factor(s) using tables. Required: Calculate the net present value of this investment opportunity. (Round discount factor(s) to 3 decimal places.) Net present value