Oakmont Company has an opportunity to manufacture and sell a new product for a four-year period. The company?s discount rate is 18%. After careful study, Oakmont estimated the following costs and revenues for the new product:

Cost of equipment needed		$	265,000
Working capital needed		$	88,000
Overhaul of the equipment in two years		$	8,000
Salvage value of the equipment in four years		$	14,000
Annual revenues and costs:
Sales revenues		$	440,000
Variable expenses		$	215,000
Fixed out-of-pocket operating costs		$	89,000

Attached areExhibit 13B-1andExhibit 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.)