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$270,000Working capital needed$90,000Overhaul of the equipment in two years$9,000Salvage value of the equipment in four years$14,500Annual revenues and costs:Sales revenues$450,000Variable expenses$220,000Fixed out-of-pocket operating costs$90,000

When the project concludes in four years the working capital will be released for investment elsewhere within the company.

Required:

Calculate the net present value of this investment opportunity.(Round discount factor(s) to 3 decimal places.)