Oakmont Company has an opportunity to manufacture and sell a new product for a four-year period. The companys 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 two years	$ 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 12B-1 and Exhibit 12B-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.)