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 $ $220,000$

Working capital needed $ $81,000$

Overhaul of the equipment in year two $ $7,500$

Salvage value of the equipment in four years $ $10,500$

Annual revenues and costs:

Sales revenues $ $370,000$

Variable expenses $ $180,000$

Fixed out$-$of$-$pocket operating costs $ $82,000$

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

Click here to view Exhibit $12$B$-1$ and Exhibit $12$B$-2,$ to determine the appropriate discount factor$($s$)$ using tables. $($Use the tables to get your discount factors. The linked tables are the same tables as the ones in your course packet. If you calculate discount factors using Excel or a financial calculator, your answer may be different enough due to rounding that the system marks it wrong.$)$

Required:

Calculate the net present value of this investment opportunity.