Oakmont Company has an opportunity to manufacture and sell a new product for a four-year period. The companys discount rate is 17%.

After careful study, Oakmont estimated the following costs and revenues for the new product:

Cost of equipment needed $ 190,000 Working capital needed $ 69,000 Overhaul of the equipment in two years $ 6,000 Salvage value of the equipment in four years $ 16,500 Annual revenues and costs: Sales revenues $ 340,000 Variable expenses $ 165,000 Fixed out-of-pocket operating $ 79,000

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

Click here to view Exhibit 14B-1 and Exhibit 14B-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.)