Oakmont Company has an opportunity to manufacture and sell a new product for a four-year period. The company's discount rate is 16%. After careful study, Oakmont estimated the following costs and revenues for the new product:

Cost of equipment needed $ 170,000 Working capital needed $ 68,000 Overhaul of the equipment in year two $ 12,000 Salvage value of the equipment in four years $ 16,000 Annual revenues and costs: Sales revenues $ 330,000 Variable expenses $ 160,000 Fixed out-of-pocket operating costs $ 78,000

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

Click here to view Exhibit 7B-1 and Exhibit 7B-2, to determine the appropriate discount factor(s) using tables.

Required:

Calculate the net present value of this investment opportunity. (Round your final answer to the nearest whole dollar amount.)