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		$	225,000
Working capital needed		$	80,000
Overhaul of the equipment in two years		$	7,000
Salvage value of the equipment in four years		$	10,000
Annual revenues and costs:
Sales revenues		$	360,000
Variable expenses		$	175,000
Fixed out-of-pocket operating costs		$	81,000

Required:

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