Oakmont Company has an opportunity to manufacture and sell a new product for a four-year period. The companys discount rate is 15%. After careful study, Oakmont estimated the following costs and revenues for the new product:

Cost of equipment needed		$	145,000
Working capital needed		$	63,000
Overhaul of the equipment in two years		$	9,500
Salvage value of the equipment in four years		$	13,500
Annual revenues and costs:
Sales revenues		$	280,000
Variable expenses		$	135,000
Fixed out-of-pocket operating costs		$	73,000

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

Required:

Calculate the net present value of this investment opportunity. (Round discount factor(s) to 3 decimal places.)