Oakmont Company has an opportunity to manufacture and sell a new product for a four-year period. The companys discount rate is 18%. After careful study, Oakmont estimated the following costs and revenues for the new product:

Cost of equipment needed$ 220,000Working capital needed$ 81,000Overhaul of the equipment in two years$ 7,500Salvage value of the equipment in four years$ 10,500Annual revenues and costs: Sales revenues$ 370,000Variable expenses$ 180,000Fixed 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 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.)