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

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

Use Excel or a financial calculator to solve.

Required:Calculate the net present value of this investment opportunity.(Round to the nearest dollar.)

Net Present Value =