Oakmont Company has an opportunity to manufacture and sell a new product for a four$-$year period. The company's discount rate is $17\%.$ After careful study, Oakmont estimated the following costs and revenues for the new product:

Cost of equipment needed

$ $165,000$

Working capital needed

Overhaul of the equipment in two years

$ $67,000$ $ $10,000$

Salvage value of the equipment in four years

$ $13,000$

$ $320,000$

Annual revenues and costs:

Sales revenues

$ $155,000$

Variable expenses

Fixed out$-$of$-$pocket operating costs

$ $77,000$

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

Click here to view Exhibit $7$B$-1$ and Exhibit $78-2,$ to determine the appropriate discount factor$($s$)$ using tables.

Required:

Calculate the net present value of this investment opportunity.

Note: Round your final answer to the nearest whole dollar amount.